First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $63.00

First Business Financial Services (NASDAQ:FBIZ) had its target price increased by Keefe, Bruyette & Woods from $59.00 to $63.00 in a research note published on Monday,Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of First Business Financial Services from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “buy (b)” rating on shares of First Business Financial Services in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $67.00.

First Business Financial Services Stock Up 0.2%

NASDAQ:FBIZ opened at $59.45 on Monday. The firm has a market capitalization of $494.62 million, a PE ratio of 9.99 and a beta of 0.76. The stock has a 50 day moving average of $55.84 and a 200-day moving average of $52.41. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77. First Business Financial Services has a 52 week low of $42.18 and a 52 week high of $60.43.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. First Business Financial Services had a net margin of 18.02% and a return on equity of 15.05%. The firm had revenue of $42.22 million during the quarter, compared to analyst estimates of $43.10 million. Analysts predict that First Business Financial Services will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, February 13th. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s dividend payout ratio (DPR) is 19.50%.

Institutional Investors Weigh In On First Business Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in First Business Financial Services by 163.2% during the 3rd quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 364 shares during the period. Hollencrest Capital Management lifted its holdings in shares of First Business Financial Services by 198.0% during the second quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider’s stock worth $31,000 after buying an additional 406 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of First Business Financial Services in the third quarter valued at approximately $33,000. State of Alaska Department of Revenue grew its stake in shares of First Business Financial Services by 174.2% in the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 575 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of First Business Financial Services by 32,175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,287 shares during the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Company Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.