First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $85.00

First Business Financial Services (NASDAQ:FBIZ) had its price objective upped by equities research analysts at DA Davidson from $80.00 to $85.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. DA Davidson‘s target price would suggest a potential upside of 10.05% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Piper Sandler upped their price target on shares of First Business Financial Services from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday. Weiss Ratings upgraded shares of First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating and set a $83.00 price objective 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 stock. According to MarketBeat.com, First Business Financial Services presently has a consensus rating of “Buy” and a consensus target price of $82.50.

First Business Financial Services Stock Up 2.4%

FBIZ stock traded up $1.83 on Monday, reaching $77.23. 27,028 shares of the company traded hands, compared to its average volume of 49,401. First Business Financial Services has a one year low of $49.36 and a one year high of $77.63. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $646.30 million, a P/E ratio of 11.34 and a beta of 0.67. The firm has a fifty day simple moving average of $70.99 and a 200-day simple moving average of $62.34.

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. First Business Financial Services had a return on equity of 15.27% and a net margin of 19.93%. The business had revenue of $47.51 million for the quarter, compared to the consensus estimate of $46.88 million. Research analysts anticipate that First Business Financial Services will post 6.59 earnings per share for the current year.

Insider Transactions at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,582,784.50. This represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of First Business Financial Services during the second quarter valued at $58,646,000. The Manufacturers Life Insurance Company purchased a new stake in shares of First Business Financial Services during the second quarter valued at $15,351,000. De Lisle Partners LLP purchased a new stake in shares of First Business Financial Services during the second quarter valued at $6,258,000. Vista Investment Management purchased a new stake in shares of First Business Financial Services during the second quarter valued at $3,307,000. Finally, Empowered Funds LLC bought a new stake in First Business Financial Services in the 2nd quarter worth about $2,853,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

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.