First Business Financial Services (NASDAQ:FBIZ) Coverage Initiated by Analysts at Raymond James Financial

Equities researchers at Raymond James Financial started coverage on shares of First Business Financial Services (NASDAQ:FBIZ) in a research report issued to clients and investors on Thursday. The firm set an “outperform” rating and a $75.00 price target on the financial services provider’s stock. Raymond James Financial’s price target suggests a potential upside of 10.87% from the stock’s previous close.

Several other equities analysts have also recently weighed in on FBIZ. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (a-)” rating on shares of First Business Financial Services in a research note on Friday, September 11th. Finally, DA Davidson set a $80.00 target price on First Business Financial Services and gave the company a “buy” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $78.25.

First Business Financial Services Stock Down 1.9%

Shares of First Business Financial Services stock traded down $1.30 during trading hours on Thursday, reaching $67.65. The company’s stock had a trading volume of 2,169 shares, compared to its average volume of 46,388. First Business Financial Services has a one year low of $46.07 and a one year high of $73.74. The company has a market capitalization of $566.22 million, a P/E ratio of 10.41 and a beta of 0.65. The stock’s fifty day simple moving average is $70.48 and its two-hundred day simple moving average is $62.61. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.06 and a current ratio of 1.06.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data 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 firm had revenue of $46.71 million during the quarter, compared to analysts’ expectations of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. On average, research analysts forecast that First Business Financial Services will post 6.56 earnings per share for the current year.

Insider Buying and Selling at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $70.19, for a total transaction of $47,378.25. Following the transaction, the insider directly owned 22,550 shares of the company’s stock, valued at $1,582,784.50. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On First Business Financial Services

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in First Business Financial Services during the second quarter worth about $58,646,000. The Manufacturers Life Insurance Company purchased a new position in First Business Financial Services in the second quarter valued at about $15,351,000. De Lisle Partners LLP purchased a new position in First Business Financial Services in the second quarter valued at about $6,258,000. Vista Investment Management bought a new position in shares of First Business Financial Services during the 2nd quarter valued at approximately $3,307,000. Finally, Empowered Funds LLC bought a new position in shares of First Business Financial Services during the 2nd quarter valued at approximately $2,853,000. 60.07% of the stock is owned by institutional investors.

About First Business Financial Services

First Business Financial Services, Inc is the holding company for First Business Bank, a full-service financial institution focused on serving privately held businesses, business owners, professionals and high-net-worth individuals. Through its banking subsidiary, the company provides commercial banking, business lending and deposit services tailored to the needs of small and middle-market companies.

Its products and services include commercial real estate and working-capital loans, equipment financing, lines of credit, treasury management, checking and savings accounts, certificates of deposit, and other business deposit products.