First Business Financial Services (NASDAQ:FBIZ) Earns Outperform Rating from Keefe, Bruyette & Woods

First Business Financial Services (NASDAQ:FBIZ)‘s stock had its “outperform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a note issued to investors on Monday,Benzinga reports. They currently have a $74.00 price target on the financial services provider’s stock, up from their prior price target of $68.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 2.32% from the stock’s previous close.

Several other equities research analysts have also commented on FBIZ. Weiss Ratings raised shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. DA Davidson set a $80.00 target price on First Business Financial Services in a report on Monday. Raymond James Financial set a $64.00 price target on shares of First Business Financial Services in a report on Monday, April 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, First Business Financial Services currently has an average rating of “Buy” and an average price target of $75.50.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ traded up $2.12 on Monday, hitting $72.33. 49,980 shares of the company were exchanged, compared to its average volume of 42,756. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $62.24 and its 200 day moving average price is $58.28. The firm has a market capitalization of $604.64 million, a P/E ratio of 10.98 and a beta of 0.65. First Business Financial Services has a 1-year low of $46.06 and a 1-year high of $73.48.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. The company had revenue of $46.71 million during the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 15.18%. Sell-side analysts predict that First Business Financial Services will post 6.21 EPS for the current year.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors have recently modified their holdings of FBIZ. NewEdge Advisors LLC acquired a new position in shares of First Business Financial Services during the 1st quarter worth $231,000. Bank of America Corp DE grew its position in shares of First Business Financial Services by 36.2% in the first quarter. Bank of America Corp DE now owns 24,024 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 6,379 shares during the last quarter. Empowered Funds LLC increased its stake in shares of First Business Financial Services by 9.5% during the 1st quarter. Empowered Funds LLC now owns 41,982 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 3,655 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of First Business Financial Services by 29.3% in the first quarter. Quantinno Capital Management LP now owns 13,359 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 3,030 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of First Business Financial Services by 34.6% during the 1st quarter. Lazard Asset Management LLC now owns 16,773 shares of the financial services provider’s stock valued at $905,000 after buying an additional 4,312 shares during the period. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.