First Business Financial Services (NASDAQ:FBIZ) Stock Rating Raised to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of First Business Financial Services (NASDAQ:FBIZ) to a moderate buy rating in a research note released on Wednesday,Zacks reports.

Several other equities research analysts also recently commented on the stock. Weiss Ratings restated a “buy (a-)” rating on shares of First Business Financial Services in a research report on Friday, September 11th. Keefe, Bruyette & Woods reaffirmed 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. 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. Finally, Piper Sandler reissued an “overweight” rating and set a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.25.

First Business Financial Services Trading Up 2.1%

Shares of FBIZ opened at $70.93 on Wednesday. The business’s 50-day moving average price is $70.63 and its 200 day moving average price is $62.79. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $593.68 million, a P/E ratio of 10.81 and a beta of 0.67. First Business Financial Services has a 1-year low of $46.07 and a 1-year high of $73.74.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. The company had revenue of $46.71 million during the quarter, compared to analyst estimates of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. Analysts expect that First Business Financial Services will post 6.56 earnings per share for the current year.

First Business Financial Services Dividend Announcement

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

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of First Business Financial Services in the second quarter worth $43,000. Legal & General Group Plc purchased a new stake in shares of First Business Financial Services during the second quarter worth $51,000. Algert Global LLC acquired a new stake in First Business Financial Services during the second quarter valued at $226,000. Jones Financial Companies Lllp acquired a new stake in First Business Financial Services during the second quarter valued at $234,000. Finally, Sequoia Financial Advisors LLC purchased a new position in First Business Financial Services in the second quarter valued at about $255,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

About First Business Financial Services

First Business Financial Services, Inc is the holding company for First Business Bank, a full-service financial institution focused on serving privately held businesses, business owners, professionals and high-net-worth individuals. Through its banking subsidiary, the company provides commercial banking, business lending and deposit services tailored to the needs of small and middle-market companies.

Its products and services include commercial real estate and working-capital loans, equipment financing, lines of credit, treasury management, checking and savings accounts, certificates of deposit, and other business deposit products.