First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $88.00

First Business Financial Services (NASDAQ:FBIZ) had its target price boosted by Piper Sandler from $84.00 to $88.00 in a research report released on Monday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings upgraded First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a report on Thursday, October 8th. DA Davidson set a $80.00 price objective on shares of First Business Financial Services and gave the stock a “buy” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $83.00 target price on shares of First Business Financial Services in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat, First Business Financial Services has a consensus rating of “Buy” and an average price target of $82.50.

First Business Financial Services Stock Up 0.8%

Shares of First Business Financial Services stock opened at $77.31 on Monday. First Business Financial Services has a one year low of $49.36 and a one year high of $79.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 1.06. The stock’s 50-day moving average is $71.45 and its 200 day moving average is $62.66. The firm has a market cap of $643.91 million, a price-to-earnings ratio of 11.35 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, October 29th. The financial services provider reported $1.95 EPS for the quarter, topping the consensus estimate of $1.67 by $0.28. The business had revenue of $47.51 million during the quarter, compared to analysts’ expectations of $46.88 million. First Business Financial Services had a return on equity of 15.04% and a net margin of 19.93%. Equities research analysts anticipate that First Business Financial Services will post 6.83 EPS for the current year.

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 12th. First Business Financial Services’s dividend payout ratio is presently 19.97%.

Insider Buying and Selling at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the transaction, the insider directly owned 22,550 shares in the company, valued at $1,582,784.50. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is owned by insiders.

Institutional Trading of First Business Financial Services

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in shares of First Business Financial Services during the second quarter worth about $43,000. Legal & General Group Plc acquired a new stake in shares of First Business Financial Services in the 2nd quarter worth about $51,000. Algert Global LLC acquired a new stake in shares of First Business Financial Services in the 2nd quarter worth about $226,000. NewEdge Advisors LLC bought a new position in First Business Financial Services in the 1st quarter valued at about $231,000. Finally, Jones Financial Companies Lllp bought a new position in First Business Financial Services in the 2nd quarter valued at about $234,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.