First Business Financial Services (NASDAQ:FBIZ) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a hold rating to a buy rating in a research report sent to investors on Monday.

Separately, Piper Sandler restated an overweight rating and set a $44.00 target price on shares of First Business Financial Services in a report on Monday, March 18th.

First Business Financial Services Stock Performance

First Business Financial Services stock opened at $36.28 on Monday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a fifty day moving average price of $34.44 and a two-hundred day moving average price of $35.57. First Business Financial Services has a 52-week low of $28.35 and a 52-week high of $41.03. The firm has a market capitalization of $300.76 million, a P/E ratio of 8.36 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Friday, April 26th. The financial services provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.09). First Business Financial Services had a net margin of 15.48% and a return on equity of 13.51%. The business had revenue of $62.54 million during the quarter, compared to analyst estimates of $37.47 million. As a group, analysts anticipate that First Business Financial Services will post 4.52 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Thursday, May 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Wednesday, May 8th. First Business Financial Services’s dividend payout ratio (DPR) is 23.04%.

Insiders Place Their Bets

In related news, Director William Kent Lorenz sold 1,345 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 9,836 shares of the company’s stock, valued at approximately $339,440.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.20% of the company’s stock.

Institutional Trading of First Business Financial Services

Several institutional investors have recently added to or reduced their stakes in FBIZ. Lazard Asset Management LLC bought a new stake in First Business Financial Services during the first quarter worth about $60,000. BNP Paribas Financial Markets raised its position in shares of First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,659 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of First Business Financial Services by 70.7% during the 4th 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 during the period. SG Americas Securities LLC boosted its position in shares of First Business Financial Services by 28.1% during the 4th quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 938 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in First Business Financial Services in the first quarter valued at approximately $247,000. 60.07% of the stock is currently owned by 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.