First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $56.00 at Piper Sandler

First Business Financial Services (NASDAQ:FBIZ) had its price target raised by investment analysts at Piper Sandler from $44.00 to $56.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 22.57% from the stock’s current price.

Separately, StockNews.com cut shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th.

First Business Financial Services Trading Up 5.1 %

NASDAQ FBIZ opened at $45.69 on Monday. The stock has a market cap of $378.77 million, a P/E ratio of 10.53 and a beta of 0.83. First Business Financial Services has a fifty-two week low of $28.35 and a fifty-two week high of $45.80. The stock has a 50 day simple moving average of $36.22 and a two-hundred day simple moving average of $35.58. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.09.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $65.34 million during the quarter, compared to analyst estimates of $36.73 million. First Business Financial Services had a return on equity of 14.06% and a net margin of 15.66%. On average, analysts forecast that First Business Financial Services will post 4.52 earnings per share for the current year.

Insider Buying and Selling

In other First Business Financial Services news, Director William Kent Lorenz sold 1,345 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $34.51, for a total transaction of $46,415.95. Following the completion of the transaction, the director now owns 9,836 shares of the company’s stock, valued at $339,440.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Vista Investment Management increased its stake in shares of First Business Financial Services by 0.6% during the fourth quarter. Vista Investment Management now owns 52,410 shares of the financial services provider’s stock valued at $2,102,000 after purchasing an additional 301 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in First Business Financial Services by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock valued at $711,000 after buying an additional 524 shares during the last quarter. SG Americas Securities LLC raised its stake in First Business Financial Services by 28.1% during the fourth quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock valued at $172,000 after buying an additional 938 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in First Business Financial Services by 70.7% in the fourth quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 1,601 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of First Business Financial Services during the first quarter valued at $60,000. 60.07% of the stock is owned by hedge funds and other 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.