First Business Financial Services (NASDAQ:FBIZ) Receives “Buy” Rating from DA Davidson

First Business Financial Services (NASDAQ:FBIZ)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $68.00 target price on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 15.36% from the company’s current price.

A number of other analysts also recently issued reports on the company. Piper Sandler raised their target price on First Business Financial Services from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $63.50.

First Business Financial Services Stock Up 2.8%

Shares of First Business Financial Services stock traded up $1.62 during trading on Monday, reaching $58.94. The company’s stock had a trading volume of 26,248 shares, compared to its average volume of 24,807. The company has a 50-day simple moving average of $55.41 and a two-hundred day simple moving average of $52.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.77. 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 cap of $490.65 million, a price-to-earnings ratio of 9.89 and a beta of 0.75.

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

Hedge Funds Weigh In On First Business Financial Services

Several large investors have recently bought and sold shares of FBIZ. LSV Asset Management increased its position in shares of First Business Financial Services by 44.6% during the third quarter. LSV Asset Management now owns 124,389 shares of the financial services provider’s stock worth $6,376,000 after purchasing an additional 38,364 shares in the last quarter. Daytona Street Capital LLC acquired a new stake in shares of First Business Financial Services in the fourth quarter valued at approximately $1,672,000. Vanguard Group Inc. grew its position in shares of First Business Financial Services by 6.8% during the third quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after acquiring an additional 30,499 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of First Business Financial Services by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 171,490 shares of the financial services provider’s stock valued at $8,688,000 after acquiring an additional 25,260 shares during the period. Finally, First Trust Advisors LP increased its position in First Business Financial Services by 469.9% in the 3rd quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 24,949 shares during the period. Institutional investors and hedge funds own 60.07% of the company’s stock.

About First Business Financial Services

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.