First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $58.00 at Piper Sandler

First Business Financial Services (NASDAQ:FBIZ - Free Report) had its price target raised by Piper Sandler from $57.00 to $58.00 in a research report released on Monday,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.

Several other equities analysts have also recently issued reports on the company. Raymond James raised their price objective on First Business Financial Services from $52.00 to $62.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods reduced their price target on First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, StockNews.com upgraded shares of First Business Financial Services from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.25.

First Business Financial Services Price Performance

Shares of FBIZ traded up $1.82 on Monday, reaching $49.68. The stock had a trading volume of 15,394 shares, compared to its average volume of 23,543. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. First Business Financial Services has a twelve month low of $33.10 and a twelve month high of $56.46. The firm has a market capitalization of $413.29 million, a PE ratio of 9.52 and a beta of 0.66. The firm has a 50-day moving average of $47.84 and a 200 day moving average of $48.21.

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

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a dividend of $0.29 per share. 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 payout ratio is 21.09%.

Insiders Place Their Bets

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $54.55, for a total transaction of $263,367.40. Following the sale, the insider now owns 7,718 shares of the company's stock, valued at approximately $421,016.90. This trade represents a 38.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On First Business Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in First Business Financial Services by 307.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider's stock valued at $1,115,000 after acquiring an additional 18,458 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in First Business Financial Services by 136.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,398 shares of the financial services provider's stock worth $759,000 after acquiring an additional 9,474 shares during the period. Barclays PLC boosted its position in shares of First Business Financial Services by 43.8% during the 3rd quarter. Barclays PLC now owns 27,909 shares of the financial services provider's stock worth $1,273,000 after purchasing an additional 8,497 shares in the last quarter. Geode Capital Management LLC raised its position in shares of First Business Financial Services by 1.3% during the third quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider's stock worth $7,907,000 after purchasing an additional 2,200 shares during the period. Finally, US Bancorp DE boosted its stake in First Business Financial Services by 371.7% during the 4th quarter. US Bancorp DE now owns 17,925 shares of the financial services provider's stock valued at $830,000 after purchasing an additional 14,125 shares during the last quarter. 60.07% of the stock is owned by institutional investors.

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.