Keefe, Bruyette & Woods Reiterates Outperform Rating for First Business Financial Services (NASDAQ:FBIZ)

First Business Financial Services (NASDAQ:FBIZ)‘s stock had its “outperform” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $74.00 price target on the financial services provider’s stock, up from their previous price target of $68.00. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 2.32% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Raymond James Financial set a $64.00 price objective on shares of First Business Financial Services in a research report on Monday, April 27th. DA Davidson set a $80.00 target price on First Business Financial Services in a report on Monday. Weiss Ratings upgraded shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, First Business Financial Services has an average rating of “Buy” and an average target price of $75.50.

First Business Financial Services Stock Up 3.0%

Shares of NASDAQ FBIZ traded up $2.12 during trading hours on Monday, hitting $72.33. 49,980 shares of the stock were exchanged, compared to its average volume of 42,756. The firm has a fifty day moving average price of $62.24 and a 200-day moving average price of $58.28. The company has a market cap of $604.64 million, a PE ratio of 10.98 and a beta of 0.65. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. First Business Financial Services has a 12 month low of $46.06 and a 12 month high of $73.48.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.28. The company had revenue of $46.71 million for the quarter, compared to analyst estimates of $45.42 million. First Business Financial Services had a return on equity of 15.18% and a net margin of 19.28%. On average, sell-side analysts expect that First Business Financial Services will post 6.21 EPS for the current year.

Institutional Investors Weigh In On First Business Financial Services

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of First Business Financial Services during the third quarter valued at approximately $33,000. State of Alaska Department of Revenue lifted its stake in shares of First Business Financial Services by 174.2% in the 4th quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 575 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of First Business Financial Services by 32,175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 1,287 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of First Business Financial Services by 356.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 1,476 shares during the period. Finally, Virtus Advisers LLC bought a new position in First Business Financial Services during the 3rd quarter valued at about $109,000. Hedge funds and other institutional investors 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.