First Business Financial Services (NASDAQ:FBIZ) Price Target Cut to $59.00 by Analysts at Keefe, Bruyette & Woods

First Business Financial Services (NASDAQ:FBIZ - Free Report) had its price target lowered by Keefe, Bruyette & Woods from $60.00 to $59.00 in a report published on Monday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider's stock.

Other equities analysts have also recently issued reports about the stock. Raymond James lifted their price target on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. StockNews.com raised First Business Financial Services from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Finally, Piper Sandler raised their price target on First Business Financial Services from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.25.

First Business Financial Services Trading Up 3.8 %

NASDAQ FBIZ traded up $1.82 on Monday, reaching $49.68. The company had a trading volume of 15,394 shares, compared to its average volume of 23,543. First Business Financial Services has a 52 week low of $33.10 and a 52 week high of $56.46. The stock's 50 day moving average is $47.84 and its 200-day moving average is $48.21. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The stock has a market cap of $413.29 million, a price-to-earnings ratio of 9.52 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.03. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. The company had revenue of $40.84 million during the quarter, compared to analysts' expectations of $40.13 million. Equities analysts predict that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, May 9th. First Business Financial Services's dividend payout ratio is 21.09%.

Insider Transactions at First Business Financial Services

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the sale, the insider now directly owns 7,718 shares of the company's stock, valued at $421,016.90. The trade was a 38.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FBIZ. Invesco Ltd. bought a new stake in First Business Financial Services in the 4th quarter valued at $3,917,000. Hillsdale Investment Management Inc. raised its position in shares of First Business Financial Services by 1,646.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider's stock valued at $2,437,000 after purchasing an additional 49,628 shares during the period. American Century Companies Inc. lifted its stake in shares of First Business Financial Services by 43.5% during the 4th quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider's stock worth $5,184,000 after buying an additional 33,957 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of First Business Financial Services by 104.4% during the 4th quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider's stock worth $2,315,000 after buying an additional 25,550 shares during the period. Finally, Fourthstone LLC grew its stake in First Business Financial Services by 254.8% in the 4th quarter. Fourthstone LLC now owns 30,239 shares of the financial services provider's stock valued at $1,400,000 after buying an additional 21,715 shares during the last quarter. Institutional investors own 60.07% of the company's stock.

About First Business Financial Services

First Business Financial Services, Inc operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals in Wisconsin, Kansas, and Missouri.