Keefe, Bruyette & Woods Increases First Business Financial Services (NASDAQ:FBIZ) Price Target to $58.00

First Business Financial Services (NASDAQ:FBIZ) had its target price raised by analysts at Keefe, Bruyette & Woods from $53.00 to $58.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 16.58% from the company’s current price.

Several other equities analysts have also commented on FBIZ. Piper Sandler dropped their target price on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $51.75.

First Business Financial Services Price Performance

First Business Financial Services stock traded down $0.10 during midday trading on Wednesday, reaching $49.75. 4,015 shares of the company were exchanged, compared to its average volume of 16,631. The company has a market capitalization of $412.68 million, a price-to-earnings ratio of 10.68 and a beta of 0.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The firm’s 50-day simple moving average is $46.34 and its 200-day simple moving average is $41.91. First Business Financial Services has a 1 year low of $32.56 and a 1 year high of $52.22.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. During the same quarter in the prior year, the firm posted $1.17 earnings per share. On average, analysts anticipate that First Business Financial Services will post 4.78 EPS for the current year.

Insider Transactions at First Business Financial Services

In related news, CEO Corey A. Chambas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.81, for a total transaction of $1,952,400.00. Following the transaction, the chief executive officer now directly owns 112,750 shares of the company’s stock, valued at approximately $5,503,327.50. The trade was a 26.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Edward Hartlieb sold 6,344 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $43.15, for a total value of $273,743.60. Following the completion of the transaction, the chief executive officer now owns 28,162 shares of the company’s stock, valued at approximately $1,215,190.30. This represents a 18.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,344 shares of company stock valued at $2,275,144 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of First Business Financial Services

Several large investors have recently modified their holdings of the business. Barclays PLC boosted its stake 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 valued at $1,273,000 after buying an additional 8,497 shares during the last quarter. Geode Capital Management LLC raised its position in shares of First Business Financial Services by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock valued at $7,907,000 after acquiring an additional 2,200 shares in the last quarter. State Street Corp increased its stake in First Business Financial Services by 1.9% during the third quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock valued at $6,232,000 after purchasing an additional 2,607 shares during the last quarter. Fourthstone LLC bought a new position in shares of First Business Financial Services in the 3rd quarter worth about $389,000. Finally, De Lisle Partners LLP raised its stake in First Business Financial Services by 43.3% during the third quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock worth $3,040,000 after acquiring an additional 20,183 shares during the period. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.