Keefe, Bruyette & Woods Increases First Business Financial Services (NASDAQ:FBIZ) Price Target to $63.00

First Business Financial Services (NASDAQ:FBIZ) had its price target upped by equities research analysts at Keefe, Bruyette & Woods from $59.00 to $63.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 7.32% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reissued a “buy (b)” rating on shares of First Business Financial Services in a research report on Thursday, January 22nd. Piper Sandler lifted their target price on First Business Financial Services from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $62.00.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ traded up $1.39 during midday trading on Monday, hitting $58.71. The stock had a trading volume of 16,824 shares, compared to its average volume of 24,402. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average price of $55.41 and a two-hundred day moving average price of $52.29. First Business Financial Services has a 1 year low of $42.18 and a 1 year high of $59.85. The company has a market capitalization of $488.66 million, a PE ratio of 9.87 and a beta of 0.75.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.38 by $0.20. First Business Financial Services had a return on equity of 15.05% and a net margin of 18.02%.The business had revenue of $42.22 million for the quarter, compared to analyst estimates of $43.10 million. As a group, equities analysts predict that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FBIZ. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in First Business Financial Services by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 234 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of First Business Financial Services by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 239 shares in the last quarter. Uncommon Cents Investing LLC boosted its holdings in shares of First Business Financial Services by 0.7% during the 3rd quarter. Uncommon Cents Investing LLC now owns 34,478 shares of the financial services provider’s stock worth $1,767,000 after buying an additional 255 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in First Business Financial Services by 2.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,635 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 298 shares during the period. Finally, First Trust Advisors LP increased its stake in First Business Financial Services by 6.6% in the second quarter. First Trust Advisors LP now owns 5,309 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 327 shares in the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Company Profile

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.