Keefe, Bruyette & Woods Boosts First Business Financial Services (NASDAQ:FBIZ) Price Target to $63.00

First Business Financial Services (NASDAQ:FBIZ) had its price objective increased by analysts at Keefe, Bruyette & Woods from $59.00 to $63.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 7.32% from the stock’s current price.

Several other research firms also recently weighed in on FBIZ. Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. Piper Sandler boosted their price objective 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. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, First Business Financial Services currently has a consensus rating of “Buy” and an average target price of $62.00.

First Business Financial Services Trading Up 2.4%

Shares of NASDAQ:FBIZ traded up $1.39 during midday trading on Monday, hitting $58.71. 16,824 shares of the stock were exchanged, compared to its average volume of 24,402. The business’s 50-day moving average price is $55.41 and its 200 day moving average price is $52.29. First Business Financial Services has a 12 month low of $42.18 and a 12 month high of $59.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $488.66 million, a price-to-earnings ratio of 9.87 and a beta of 0.75.

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

Hedge Funds Weigh In On First Business Financial Services

Institutional investors have recently bought and sold shares of the business. LSV Asset Management lifted its position in First Business Financial Services by 44.6% during the third quarter. LSV Asset Management now owns 124,389 shares of the financial services provider’s stock valued at $6,376,000 after acquiring an additional 38,364 shares during the last quarter. Daytona Street Capital LLC purchased a new stake in First Business Financial Services in the 4th quarter worth approximately $1,672,000. Vanguard Group Inc. raised its holdings in First Business Financial Services by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after purchasing an additional 30,499 shares during the period. American Century Companies Inc. increased its stake in shares of First Business Financial Services by 17.3% during the second quarter. American Century Companies Inc. now owns 171,490 shares of the financial services provider’s stock worth $8,688,000 after purchasing an additional 25,260 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in First Business Financial Services by 469.9% in the 3rd quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 24,949 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

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.