First Business Financial Services (NASDAQ:FBIZ) Rating Increased to Buy at StockNews.com

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

Separately, Piper Sandler reissued an overweight rating and issued a $44.00 price target on shares of First Business Financial Services in a research note on Monday, March 18th.

First Business Financial Services Stock Down 0.7 %

NASDAQ:FBIZ opened at $36.28 on Monday. The stock’s fifty day moving average price is $34.44 and its two-hundred day moving average price is $35.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $300.76 million, a price-to-earnings ratio of 8.36 and a beta of 0.83. First Business Financial Services has a 52-week low of $28.35 and a 52-week high of $41.03.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.09). The company had revenue of $62.54 million during the quarter, compared to analyst estimates of $37.47 million. First Business Financial Services had a net margin of 15.48% and a return on equity of 13.51%. On average, analysts anticipate that First Business Financial Services will post 4.52 EPS for the current year.

First Business Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Thursday, May 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Wednesday, May 8th. First Business Financial Services’s dividend payout ratio is currently 23.04%.

Insider Activity at First Business Financial Services

In related news, Director William Kent Lorenz sold 1,345 shares of the company’s stock in a transaction on Monday, May 13th. The shares were 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 owns 9,836 shares in the company, valued at approximately $339,440.36. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Business Financial Services

A number of large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in 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 worth $711,000 after purchasing an additional 524 shares in the last quarter. Lazard Asset Management LLC bought a new position in First Business Financial Services during the 1st quarter worth about $60,000. Quadrature Capital Ltd bought a new position in First Business Financial Services during the 1st quarter worth about $247,000. Vanguard Group Inc. increased its holdings in First Business Financial Services by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock worth $13,540,000 after purchasing an additional 7,499 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its holdings in First Business Financial Services by 1.7% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 169,903 shares of the financial services provider’s stock worth $6,371,000 after purchasing an additional 2,894 shares in the last quarter. 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.