Piper Sandler Cuts First Business Financial Services (NASDAQ:FBIZ) Price Target to $53.00

First Business Financial Services (NASDAQ:FBIZ) had its price target decreased by Piper Sandler from $56.00 to $53.00 in a report released on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on FBIZ. DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $50.00 in a research note on Monday, August 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $51.00 target price (up from $48.00) on shares of First Business Financial Services in a research note on Monday, July 29th. Finally, StockNews.com cut shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, First Business Financial Services has an average rating of “Moderate Buy” and an average target price of $50.00.

First Business Financial Services Stock Down 1.2 %

FBIZ opened at $44.25 on Tuesday. The company has a 50 day moving average of $44.00 and a 200 day moving average of $39.35. The company has a market cap of $366.79 million, a PE ratio of 10.20 and a beta of 0.82. First Business Financial Services has a 12 month low of $29.80 and a 12 month high of $47.23. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The business had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. During the same period in the prior year, the company posted $1.17 EPS. On average, sell-side analysts expect that First Business Financial Services will post 4.7 EPS for the current year.

Institutional Trading of First Business Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of First Business Financial Services by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock valued at $711,000 after buying an additional 524 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of First Business Financial Services during the 1st quarter valued at $60,000. BNP Paribas Financial Markets grew its holdings in shares of First Business Financial Services by 73.1% during the 1st 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 last quarter. Bank of New York Mellon Corp grew its holdings in shares of First Business Financial Services by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 1,998 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of First Business Financial Services during the 3rd quarter valued at $125,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

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.