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

by · The Markets Daily

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

Several other analysts have also issued reports on the company. DA Davidson raised First Business Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $50.00 in a research note on Monday, August 5th. 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. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $50.00.

Read Our Latest Stock Report on FBIZ

First Business Financial Services Price Performance

FBIZ stock opened at $42.80 on Tuesday. The firm has a 50 day simple moving average of $44.03 and a two-hundred day simple moving average of $39.41. The stock has a market cap of $355.24 million, a PE ratio of 9.18 and a beta of 0.82. First Business Financial Services has a one year low of $30.50 and a one year high of $47.23. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.07.

First Business Financial Services (NASDAQ:FBIZ – Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. The business had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, analysts predict that First Business Financial Services will post 4.76 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, November 7th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, November 7th. First Business Financial Services’s payout ratio is 21.46%.

Institutional Investors Weigh In On First Business Financial Services

Institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of First Business Financial Services during the first quarter valued at about $60,000. SG Americas Securities LLC bought a new position in First Business Financial Services during the 3rd quarter valued at approximately $125,000. BNP Paribas Financial Markets raised its position in 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. ERn Financial LLC purchased a new stake in First Business Financial Services in the 3rd quarter worth approximately $210,000. Finally, Creative Planning bought a new stake in shares of First Business Financial Services in the 3rd quarter worth approximately $216,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

(Get Free Report)

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.

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