Piper Sandler Cuts First Business Financial Services (NASDAQ:FBIZ) Price Target to $53.00

First Business Financial Services (NASDAQ:FBIZ) had its target price cut by equities research analysts at Piper Sandler from $56.00 to $53.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 18.70% from the stock’s previous close.

A number of other analysts also recently commented on the stock. StockNews.com downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $51.00 price target (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. Finally, DA Davidson raised shares of First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $50.00 in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

First Business Financial Services Stock Performance

FBIZ stock traded down $0.13 on Tuesday, hitting $44.65. The company’s stock had a trading volume of 5,345 shares, compared to its average volume of 15,340. The firm has a 50 day moving average of $43.96 and a two-hundred day moving average of $39.28. First Business Financial Services has a 1 year low of $29.80 and a 1 year high of $47.23. The stock has a market cap of $370.10 million, a price-to-earnings ratio of 10.31 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12.

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, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. During the same period in the previous year, the company posted $1.17 EPS. Equities analysts predict that First Business Financial Services will post 4.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in First Business Financial Services during the 1st quarter valued at $60,000. SG Americas Securities LLC bought a new position in shares of First Business Financial Services in the 3rd quarter worth about $125,000. BNP Paribas Financial Markets lifted its position in shares of First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,659 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of First Business Financial Services in the 2nd quarter worth about $204,000. Finally, ERn Financial LLC bought a new position in shares of First Business Financial Services in the 3rd quarter worth about $210,000. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

First Business Financial Services Company Profile

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.