First Business Financial Services (NASDAQ:FBIZ) Stock Bumped Up to “Moderate Buy” by Raymond James Financial

First Business Financial Services (NASDAQ:FBIZ) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a research note issued on Wednesday, Zacks reports.

Several other equities research analysts have also recently commented on the company. DA Davidson set a $80.00 price objective on First Business Financial Services and gave the company a “buy” rating in a research report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating and issued a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (a-)” rating on shares of First Business Financial Services in a research note on Friday, September 11th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $78.25.

First Business Financial Services Stock Performance

Shares of FBIZ opened at $70.93 on Wednesday. The business’s fifty day simple moving average is $70.63 and its two-hundred day simple moving average is $62.79. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. First Business Financial Services has a 12 month low of $46.07 and a 12 month high of $73.74. The company has a market cap of $593.68 million, a price-to-earnings ratio of 10.81 and a beta of 0.67.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.28. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%.The firm had revenue of $46.71 million during the quarter, compared to analysts’ expectations of $45.42 million. Research analysts anticipate that First Business Financial Services will post 6.56 earnings per share for the current fiscal year.

Insider Activity at First Business Financial Services

In other news, insider Jodi Chandler sold 675 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the sale, the insider directly owned 22,550 shares in the company, valued at $1,582,784.50. This represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Business Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new stake in First Business Financial Services during the second quarter valued at about $43,000. Legal & General Group Plc purchased a new stake in First Business Financial Services in the second quarter worth about $51,000. Algert Global LLC bought a new position in shares of First Business Financial Services in the second quarter worth about $226,000. Jones Financial Companies Lllp bought a new position in shares of First Business Financial Services in the second quarter worth about $234,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of First Business Financial Services during the 2nd quarter valued at about $255,000. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

About First Business Financial Services

First Business Financial Services, Inc is the holding company for First Business Bank, a full-service financial institution focused on serving privately held businesses, business owners, professionals and high-net-worth individuals. Through its banking subsidiary, the company provides commercial banking, business lending and deposit services tailored to the needs of small and middle-market companies.

Its products and services include commercial real estate and working-capital loans, equipment financing, lines of credit, treasury management, checking and savings accounts, certificates of deposit, and other business deposit products.