Keefe, Bruyette & Woods Raises First Business Financial Services (NASDAQ:FBIZ) Price Target to $60.00

First Business Financial Services (NASDAQ:FBIZ) had its target price lifted by equities researchers at Keefe, Bruyette & Woods from $58.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 16.14% from the company’s current price.

FBIZ has been the topic of a number of other research reports. Piper Sandler dropped their target price on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th.

First Business Financial Services Trading Up 4.3 %

Shares of FBIZ stock opened at $51.66 on Monday. First Business Financial Services has a 1 year low of $32.56 and a 1 year high of $52.98. The firm’s fifty day simple moving average is $47.48 and its 200 day simple moving average is $45.46. The firm has a market capitalization of $428.78 million, a P/E ratio of 9.90 and a beta of 0.88. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. As a group, sell-side analysts predict that First Business Financial Services will post 5.24 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Corey A. Chambas sold 40,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.81, for a total value of $1,952,400.00. Following the sale, the chief executive officer now owns 112,750 shares in the company, valued at approximately $5,503,327.50. The trade was a 26.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Kent Lorenz sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the sale, the director now owns 8,341 shares in the company, valued at $408,709. This represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of First Business Financial Services in the fourth quarter valued at about $49,000. SG Americas Securities LLC bought a new position in shares of First Business Financial Services in the third quarter valued at about $125,000. Squarepoint Ops LLC bought a new stake in First Business Financial Services during the 2nd quarter worth about $204,000. ERn Financial LLC bought a new stake in First Business Financial Services during the 3rd quarter worth about $210,000. Finally, Creative Planning bought a new stake in First Business Financial Services during the 3rd quarter worth about $216,000. 60.07% of the stock is 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.