First Business Financial Services (NASDAQ:FBIZ) Given "Buy" Rating at DA Davidson

Key Points

• DA Davidson reaffirmed a "Buy" rating on First Business Financial Services with a $65 price target (about a 14% upside), joining other analysts whose average target is $65.50 and includes Piper Sandler's $70 and Raymond James' $64 targets.
• First Business reported Q1 EPS of $1.44 vs. $1.42 expected and revenue of $44.29M vs. $43.40M, and the stock traded up to $57.01; the company has a market cap of $475.46M and a P/E of 9.39.
• Institutional investors own about 60.07% of the shares, with several funds (e.g., MIRAE, Franklin, Stifel) modestly increasing their stakes recently.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at DA Davidson in a research note issued on Monday,Benzinga reports. They currently have a $65.00 price target on the financial services provider's stock. DA Davidson's price objective would indicate a potential upside of 14.02% from the company's current price.

FBIZ has been the topic of several other research reports. Keefe, Bruyette & Woods upped their target price on shares of First Business Financial Services from $59.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, February 2nd. Piper Sandler restated an "overweight" rating and set a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Business Financial Services in a research report on Tuesday, April 21st. Finally, Raymond James Financial set a $64.00 target price on shares of First Business Financial Services in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $65.50.

First Business Financial Services Stock Up 1.7%

NASDAQ:FBIZ traded up $0.98 on Monday, reaching $57.01. 41,796 shares of the stock traded hands, compared to its average volume of 36,237. The company has a market capitalization of $475.46 million, a price-to-earnings ratio of 9.39 and a beta of 0.72. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. First Business Financial Services has a 12 month low of $45.90 and a 12 month high of $60.53. The company's fifty day simple moving average is $55.38 and its 200 day simple moving average is $54.54.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.02. First Business Financial Services had a net margin of 18.16% and a return on equity of 14.83%. The business had revenue of $44.29 million during the quarter, compared to analyst estimates of $43.40 million. Equities analysts predict that First Business Financial Services will post 6.05 EPS for the current fiscal year.

Institutional Investors Weigh In On First Business Financial Services

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in First Business Financial Services by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider's stock valued at $222,000 after buying an additional 234 shares during the period. Franklin Resources Inc. grew its position in First Business Financial Services by 1.1% during the third quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider's stock valued at $1,139,000 after buying an additional 239 shares during the period. Uncommon Cents Investing LLC grew its position in First Business Financial Services by 0.8% during the fourth quarter. Uncommon Cents Investing LLC now owns 34,743 shares of the financial services provider's stock valued at $1,887,000 after buying an additional 265 shares during the period. Stifel Financial Corp grew its position in First Business Financial Services by 1.2% during the fourth quarter. Stifel Financial Corp now owns 23,035 shares of the financial services provider's stock valued at $1,251,000 after buying an additional 272 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in First Business Financial Services by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,635 shares of the financial services provider's stock valued at $798,000 after buying an additional 298 shares during the period. Institutional investors own 60.07% of the company's stock.

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.

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