First Business Financial Services’ (FBIZ) Buy Rating Reiterated at DA Davidson

DA Davidson reaffirmed their buy rating on shares of First Business Financial Services (NASDAQ:FBIZ) in a research note released on Monday,Benzinga reports. DA Davidson currently has a $68.00 target price on the financial services provider’s stock.

A number of other research firms have also commented on FBIZ. Piper Sandler lifted their price objective on shares of First Business Financial Services from $58.00 to $61.00 and gave the company an “overweight” rating in a research note 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. Finally, Keefe, Bruyette & Woods upped their price objective on First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $67.00.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ opened at $59.45 on Monday. The stock has a market cap of $494.62 million, a P/E ratio of 9.99 and a beta of 0.76. First Business Financial Services has a twelve month low of $42.18 and a twelve month high of $60.43. The stock has a 50 day moving average of $55.84 and a two-hundred 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 (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $1.58 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 business had revenue of $42.22 million for the quarter, compared to analysts’ expectations of $43.10 million. On average, research analysts forecast that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

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

Institutional Trading of First Business Financial Services

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in First Business Financial Services by 6.8% during the third quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after acquiring an additional 30,499 shares during the period. Geode Capital Management LLC boosted its position in shares of First Business Financial Services by 4.4% during the 2nd quarter. Geode Capital Management LLC now owns 185,361 shares of the financial services provider’s stock worth $9,392,000 after purchasing an additional 7,797 shares in the last quarter. American Century Companies Inc. grew its stake in shares of First Business Financial Services by 17.3% during the 2nd 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 during the period. Cutler Capital Management LLC increased its holdings in shares of First Business Financial Services by 0.3% in the 2nd quarter. Cutler Capital Management LLC now owns 155,799 shares of the financial services provider’s stock valued at $7,893,000 after purchasing an additional 400 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of First Business Financial Services by 44.6% in the third quarter. LSV Asset Management now owns 124,389 shares of the financial services provider’s stock valued at $6,376,000 after purchasing an additional 38,364 shares during the period. 60.07% of the stock is owned by institutional investors and hedge funds.

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.