First Business Financial Services (NASDAQ:FBIZ) Raised to Buy at Zacks Investment Research

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First Business Financial Services (NASDAQ:FBIZ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $27.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.03% from the stock’s previous close.

According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “

Separately, ValuEngine lowered First Business Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, August 8th.

NASDAQ:FBIZ traded down $0.07 during trading hours on Wednesday, reaching $24.10. 22,000 shares of the company’s stock were exchanged, compared to its average volume of 14,226. The firm has a market capitalization of $210.27 million, a price-to-earnings ratio of 12.96 and a beta of 0.82. The company has a 50-day moving average of $24.36 and a 200 day moving average of $23.72. The company has a quick ratio of 1.17, a current ratio of 1.18 and a debt-to-equity ratio of 1.80. First Business Financial Services has a 1-year low of $18.76 and a 1-year high of $25.92.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.07. The company had revenue of $22.57 million for the quarter, compared to the consensus estimate of $22.80 million. First Business Financial Services had a net margin of 17.75% and a return on equity of 11.60%. Research analysts forecast that First Business Financial Services will post 2.6 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in FBIZ. Banc Funds Co. LLC lifted its holdings in shares of First Business Financial Services by 1.5% during the second quarter. Banc Funds Co. LLC now owns 685,852 shares of the financial services provider’s stock worth $16,118,000 after purchasing an additional 10,000 shares during the period. BlackRock Inc. raised its position in First Business Financial Services by 4.4% during the 2nd quarter. BlackRock Inc. now owns 462,963 shares of the financial services provider’s stock worth $10,879,000 after buying an additional 19,446 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of First Business Financial Services by 7.3% in the 2nd quarter. Renaissance Technologies LLC now owns 225,205 shares of the financial services provider’s stock worth $5,292,000 after acquiring an additional 15,305 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of First Business Financial Services by 12.7% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 175,863 shares of the financial services provider’s stock worth $4,133,000 after acquiring an additional 19,787 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of First Business Financial Services by 1.6% in the second quarter. Northern Trust Corp now owns 166,881 shares of the financial services provider’s stock valued at $3,922,000 after acquiring an additional 2,593 shares in the last quarter. 63.96% of the stock is currently owned by institutional investors and hedge funds.

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.

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