First Business Financial Services’ (FBIZ) Outperform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of First Business Financial Services (NASDAQ:FBIZ) in a research report report published on Monday,Benzinga reports. They currently have a $74.00 price target on the financial services provider’s stock, up from their prior price target of $68.00.

Several other research analysts have also recently issued reports on FBIZ. Raymond James Financial set a $64.00 target price on First Business Financial Services in a research report on Monday, April 27th. Piper Sandler reissued an “overweight” rating and issued a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a research report on Monday. Weiss Ratings upgraded First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. Finally, DA Davidson set a $80.00 price objective on shares of First Business Financial Services and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, First Business Financial Services currently has a consensus rating of “Buy” and an average price target of $75.50.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ opened at $71.85 on Monday. First Business Financial Services has a fifty-two week low of $46.07 and a fifty-two week high of $73.48. The stock has a market cap of $601.38 million, a price-to-earnings ratio of 10.95 and a beta of 0.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.03 and a current ratio of 1.06. The firm’s 50-day simple moving average is $63.12 and its 200 day simple moving average is $58.62.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.28. The firm had revenue of $46.71 million during the quarter, compared to analyst estimates of $45.42 million. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. As a group, research analysts anticipate that First Business Financial Services will post 6.51 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, August 12th. First Business Financial Services’s payout ratio is presently 20.73%.

Institutional Trading of First Business Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP grew its position in First Business Financial Services by 149.1% during the fourth quarter. GSA Capital Partners LLP now owns 30,210 shares of the financial services provider’s stock valued at $1,640,000 after buying an additional 18,083 shares during the period. Daytona Street Capital LLC bought a new stake in First Business Financial Services in the fourth quarter worth about $1,672,000. Wealth Enhancement Trust Services Inc. purchased a new position in First Business Financial Services in the fourth quarter valued at about $462,000. LSV Asset Management boosted its stake in First Business Financial Services by 7.8% in the fourth quarter. LSV Asset Management now owns 134,127 shares of the financial services provider’s stock valued at $7,283,000 after acquiring an additional 9,738 shares during the last quarter. Finally, De Lisle Partners LLP grew its position in shares of First Business Financial Services by 3.4% during the 4th quarter. De Lisle Partners LLP now owns 96,812 shares of the financial services provider’s stock valued at $5,257,000 after acquiring an additional 3,172 shares during the period. 60.07% of the stock is owned by hedge funds and other institutional investors.

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.