First Business Financial Services (NASDAQ:FBIZ) Stock Price Expected to Rise, Piper Sandler Analyst Says

First Business Financial Services (NASDAQ:FBIZ) had its price objective raised by analysts at Piper Sandler from $84.00 to $88.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler‘s price objective suggests a potential upside of 13.94% from the company’s current price.

Other research analysts also recently issued research reports about the stock. DA Davidson set a $80.00 price target on shares of First Business Financial Services and gave the company a “buy” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Weiss Ratings raised shares of First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating and set a $83.00 target price on shares of First Business Financial Services in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $82.50.

First Business Financial Services Stock Up 2.4%

Shares of NASDAQ FBIZ traded up $1.83 during trading hours on Monday, hitting $77.23. The stock had a trading volume of 27,028 shares, compared to its average volume of 49,401. The company has a market capitalization of $646.30 million, a P/E ratio of 11.35 and a beta of 0.67. The firm’s 50-day moving average price is $70.99 and its two-hundred day moving average price is $62.34. First Business Financial Services has a 52 week low of $49.36 and a 52 week high of $77.63. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.06 and a current ratio of 1.06.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.28. The firm had revenue of $47.51 million for the quarter, compared to analyst estimates of $46.88 million. First Business Financial Services had a net margin of 19.93% and a return on equity of 15.27%. Analysts anticipate that First Business Financial Services will post 6.59 EPS for the current fiscal year.

Insider Transactions at First Business Financial Services

In other First Business Financial Services news, insider Jodi Chandler sold 675 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total transaction of $47,378.25. Following the transaction, the insider owned 22,550 shares in the company, valued at $1,582,784.50. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.00% of the stock is owned by insiders.

Institutional Trading of First Business Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of FBIZ. BlackRock Inc. acquired a new position in First Business Financial Services in the 2nd quarter valued at $58,646,000. The Manufacturers Life Insurance Company acquired a new position in First Business Financial Services during the 2nd quarter worth $15,351,000. De Lisle Partners LLP acquired a new position in First Business Financial Services during the 2nd quarter worth $6,258,000. Vista Investment Management acquired a new position in First Business Financial Services during the 2nd quarter worth $3,307,000. Finally, Empowered Funds LLC bought a new stake in First Business Financial Services during the second quarter valued at about $2,853,000. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.