First Business Financial Services (NASDAQ:FBIZ) Downgraded by StockNews.com to “Hold”

First Business Financial Services (NASDAQ:FBIZ) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other analysts have also issued reports about the stock. Piper Sandler dropped their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their target price on shares of First Business Financial Services from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.75.

First Business Financial Services Stock Up 0.7 %

NASDAQ FBIZ traded up $0.35 during trading hours on Friday, hitting $47.50. 14,719 shares of the company traded hands, compared to its average volume of 25,688. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The business’s 50-day moving average is $47.53 and its 200-day moving average is $45.00. The stock has a market capitalization of $394.25 million, a price-to-earnings ratio of 10.19 and a beta of 0.87. First Business Financial Services has a twelve month low of $32.56 and a twelve month high of $52.22.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 company 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 business posted $1.17 EPS. Sell-side analysts anticipate that First Business Financial Services will post 4.78 earnings per share for the current year.

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.81, for a total value of $1,952,400.00. Following the transaction, the chief executive officer now directly owns 112,750 shares of the company’s stock, valued at $5,503,327.50. This represents a 26.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Edward Hartlieb sold 6,344 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $43.15, for a total transaction of $273,743.60. Following the sale, the chief executive officer now owns 28,162 shares of the company’s stock, valued at $1,215,190.30. This trade represents a 18.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,344 shares of company stock valued at $2,275,144 in the last quarter. 6.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBIZ. R Squared Ltd acquired a new stake in shares of First Business Financial Services during the fourth quarter worth $49,000. SG Americas Securities LLC bought a new position in First Business Financial Services during the third quarter worth about $125,000. Squarepoint Ops LLC acquired a new stake in First Business Financial Services in the 2nd quarter worth about $204,000. ERn Financial LLC bought a new stake in First Business Financial Services in the 3rd quarter valued at about $210,000. Finally, Creative Planning acquired a new position in shares of First Business Financial Services during the 3rd quarter worth approximately $216,000. 60.07% of the stock is owned by institutional investors and hedge funds.

About First Business Financial Services

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.