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

First Business Financial Services (NASDAQ:FBIZ) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

A number of other analysts have also commented on the company. Piper Sandler boosted their price objective on First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. DA Davidson raised First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $50.00 in a report on Monday, August 5th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 price objective (up from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $50.75.

First Business Financial Services Stock Up 3.9 %

FBIZ stock opened at $43.69 on Thursday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.08. The stock’s 50 day simple moving average is $43.22 and its 200 day simple moving average is $38.49. The company has a market cap of $362.19 million, a P/E ratio of 9.52 and a beta of 0.82. First Business Financial Services has a fifty-two week low of $28.35 and a fifty-two week high of $47.23.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $65.34 million during the quarter, compared to analyst estimates of $36.73 million. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. On average, research analysts expect that First Business Financial Services will post 4.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Business Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in First Business Financial Services during the first quarter valued at $247,000. Vanguard Group Inc. grew its holdings in First Business Financial Services by 2.1% during the first quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock valued at $13,540,000 after purchasing an additional 7,499 shares during the period. Lazard Asset Management LLC bought a new position in First Business Financial Services during the first quarter valued at $60,000. Empowered Funds LLC grew its holdings in First Business Financial Services by 7.8% during the first quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock valued at $1,541,000 after purchasing an additional 2,975 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,659 shares during the period. 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.