First Business Financial Services (NASDAQ:FBIZ) Stock Price Target Raised at Piper Sandler

Key Points

• Piper Sandler raised First Business Financial Services’ price target to $88 from $84 while maintaining an “overweight” rating, implying 13.94% upside from the stock’s $77.23 price.
• Analyst sentiment remains positive: FBIZ has a consensus “Buy” rating and an average price target of $82.50, supported by ratings from Keefe, Bruyette & Woods, Raymond James, DA Davidson, and Weiss Ratings.
• The company exceeded quarterly expectations, reporting $1.95 in EPS versus the $1.67 consensus estimate and revenue of $47.51 million versus estimates of $46.88 million.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) had its price objective hoisted by equities research analysts at Piper Sandler from $84.00 to $88.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price objective would suggest a potential upside of 13.94% from the stock's current price.

A number of other equities analysts have also recently issued reports on FBIZ. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Weiss Ratings raised First Business Financial Services from a "buy (a-)" rating to a "buy (a+)" rating in a report on Thursday, October 8th. Raymond James Financial reiterated an "outperform" rating and issued a $83.00 price target on shares of First Business Financial Services in a research report on Monday. Finally, DA Davidson set a $80.00 price target on First Business Financial Services and gave the company a "buy" rating in a research report on Monday, August 3rd. One investment 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, First Business Financial Services has a consensus rating of "Buy" and a consensus price target of $82.50.

First Business Financial Services Price Performance

NASDAQ:FBIZ traded up $1.83 during trading hours on Monday, reaching $77.23. 27,028 shares of the company's stock were exchanged, 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. First Business Financial Services has a 12 month low of $49.36 and a 12 month high of $77.63. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90. The business's 50-day simple moving average is $70.99 and its two-hundred day simple moving average is $62.34.

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

Insider Buying and Selling

In other First Business Financial Services news, insider Jodi Chandler sold 675 shares of First Business Financial Services stock in a transaction dated 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 of the company's stock, valued at $1,582,784.50. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On First Business Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of First Business Financial Services during the 2nd quarter valued at $43,000. Legal & General Group Plc acquired a new position in shares of First Business Financial Services in the second quarter worth $51,000. Algert Global LLC purchased a new stake in shares of First Business Financial Services during the second quarter worth $226,000. NewEdge Advisors LLC purchased a new stake in shares of First Business Financial Services during the first quarter worth $231,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of First Business Financial Services during the second quarter worth $234,000. Hedge funds and other institutional investors own 60.07% of the company's stock.

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.

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