First Business Financial Services (NASDAQ:FBIZ) Upgraded by StockNews.com to Buy

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

Separately, Piper Sandler reissued 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 Price Performance

Shares of First Business Financial Services stock opened at $36.50 on Monday. The business has a 50 day simple moving average of $34.37 and a two-hundred day simple moving average of $35.58. First Business Financial Services has a 12 month low of $28.35 and a 12 month high of $41.03. The stock has a market capitalization of $302.59 million, a P/E ratio of 8.41 and a beta of 0.83. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.09 and a quick ratio of 1.09.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Friday, April 26th. The financial services provider reported $1.04 EPS 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 firm had revenue of $62.54 million for the quarter, compared to analyst estimates of $37.47 million. As a group, analysts predict 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. Stockholders of record on Thursday, May 9th were given a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.74%. First Business Financial Services’s dividend payout ratio (DPR) is presently 23.04%.

Insider Activity

In other news, Director William Kent Lorenz sold 1,345 shares of the company’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 value of $46,415.95. Following the completion of the sale, the director now directly owns 9,836 shares in the company, valued at $339,440.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On First Business Financial Services

A number of large investors have recently made changes to their positions in the stock. Uncommon Cents Investing LLC grew its position in First Business Financial Services by 4.3% in the fourth quarter. Uncommon Cents Investing LLC now owns 36,255 shares of the financial services provider’s stock worth $1,454,000 after acquiring an additional 1,485 shares during the period. Federated Hermes Inc. grew its position in First Business Financial Services by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 65,483 shares of the financial services provider’s stock worth $2,626,000 after acquiring an additional 2,444 shares during the period. SG Americas Securities LLC grew its position in First Business Financial Services by 28.1% in the fourth 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 during the period. New York State Common Retirement Fund grew its position in First Business Financial Services by 70.7% in the fourth 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. Finally, Vista Investment Management boosted its position in shares of First Business Financial Services by 0.6% during the fourth quarter. Vista Investment Management now owns 52,410 shares of the financial services provider’s stock worth $2,102,000 after buying an additional 301 shares during the period. 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 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.