Weiss Ratings Reiterates "Buy (B)" Rating for First Business Financial Services (NASDAQ:FBIZ)

Key Points

• Weiss Ratings has reiterated a "Buy (B)" rating for First Business Financial Services (NASDAQ:FBIZ), reflecting a positive outlook from stock analysts.
• Piper Sandler raised its price target on FBIZ from $55.00 to $58.00 and awarded an "overweight" rating, with the average target price now at $59.67.
• Insider trading activity includes Director Ralph R. Kauten purchasing 10,000 shares at an average cost of $47.80, significantly increasing his stake in the company.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report)'s stock had its "buy (b)" rating restated by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Piper Sandler lifted their price objective on First Business Financial Services from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $59.67.

First Business Financial Services Price Performance

FBIZ stock opened at $50.32 on Wednesday. The firm has a 50 day moving average of $50.54 and a 200-day moving average of $49.52. First Business Financial Services has a 12-month low of $41.50 and a 12-month high of $56.46. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.83. The company has a market cap of $418.66 million, a price-to-earnings ratio of 8.95 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.35. First Business Financial Services had a net margin of 17.59% and a return on equity of 14.22%. The company had revenue of $41.04 million during the quarter, compared to the consensus estimate of $41.55 million. As a group, equities analysts expect that First Business Financial Services will post 5.43 EPS for the current fiscal year.

Insider Activity at First Business Financial Services

In other news, Director Ralph R. Kauten bought 10,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was purchased at an average cost of $47.80 per share, with a total value of $478,000.00. Following the purchase, the director owned 29,756 shares of the company's stock, valued at approximately $1,422,336.80. The trade was a 50.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Jason R. Graham bought 1,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was purchased at an average cost of $47.87 per share, with a total value of $47,870.00. Following the completion of the purchase, the director directly owned 3,220 shares in the company, valued at $154,141.40. This trade represents a 45.05% increase in their position. The disclosure for this purchase can be found here. 5.10% of the stock is currently owned by insiders.

Institutional Trading of First Business Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management grew its stake in shares of First Business Financial Services by 198.0% during the 2nd quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider's stock valued at $31,000 after buying an additional 406 shares during the period. CWM LLC grew its stake in shares of First Business Financial Services by 48.7% during the 1st quarter. CWM LLC now owns 913 shares of the financial services provider's stock valued at $43,000 after buying an additional 299 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of First Business Financial Services by 32,175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider's stock valued at $65,000 after buying an additional 1,287 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of First Business Financial Services by 356.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider's stock valued at $96,000 after buying an additional 1,476 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of First Business Financial Services during the 1st quarter valued at $122,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

First Business Financial Services Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.