First Business Financial Services, Inc. (NASDAQ:FBIZ) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “

Several other equities research analysts have also recently weighed in on FBIZ. TheStreet cut First Business Financial Services from a “b” rating to a “c+” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $25.00 target price on shares of First Business Financial Services in a report on Thursday, August 3rd. Five equities research analysts have rated the stock with a hold rating, First Business Financial Services has an average rating of “Hold” and an average price target of $24.50.

First Business Financial Services (NASDAQ:FBIZ) opened at 22.48 on Tuesday. The firm’s 50-day moving average price is $21.53 and its 200 day moving average price is $23.30. First Business Financial Services has a 12 month low of $18.76 and a 12 month high of $28.43. The stock has a market cap of $195.91 million, a price-to-earnings ratio of 16.43 and a beta of 0.95.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Friday, July 28th. The financial services provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.19). First Business Financial Services had a return on equity of 7.25% and a net margin of 12.64%. The firm had revenue of $20.22 million during the quarter, compared to analysts’ expectations of $19.45 million. On average, analysts anticipate that First Business Financial Services will post $1.50 earnings per share for the current year.

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In related news, Director Jerome J. Smith sold 1,475 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $21.40, for a total transaction of $31,565.00. Following the completion of the sale, the director now directly owns 1,250 shares in the company, valued at approximately $26,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles H. Batson sold 2,300 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $21.25, for a total value of $48,875.00. Following the sale, the insider now owns 26,907 shares of the company’s stock, valued at $571,773.75. The disclosure for this sale can be found here. Insiders sold a total of 5,025 shares of company stock valued at $106,903 over the last quarter. Company insiders own 6.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FBIZ. American International Group Inc. lifted its stake in shares of First Business Financial Services by 7.2% during the 1st quarter. American International Group Inc. now owns 4,973 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 333 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of First Business Financial Services during the 2nd quarter worth $201,000. Rhumbline Advisers lifted its stake in shares of First Business Financial Services by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 9,351 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 470 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of First Business Financial Services by 2.5% during the 2nd quarter. Bessemer Group Inc. now owns 12,100 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 300 shares during the last quarter. Finally, OppenheimerFunds Inc. purchased a new stake in shares of First Business Financial Services during the 1st quarter worth $281,000. Hedge funds and other institutional investors own 60.13% of the company’s stock.

About First Business Financial Services

First Business Financial Services, Inc (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks).

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