Raymond James Boosts First Business Financial Services (NASDAQ:FBIZ) Price Target to $62.00

First Business Financial Services (NASDAQ:FBIZ) had its target price upped by analysts at Raymond James from $52.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective would suggest a potential upside of 19.17% from the company’s current price.

FBIZ has been the topic of a number of other research reports. StockNews.com downgraded First Business Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Piper Sandler decreased their target price on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price target on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, First Business Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $56.25.

First Business Financial Services Stock Performance

Shares of NASDAQ FBIZ opened at $52.03 on Monday. First Business Financial Services has a one year low of $32.56 and a one year high of $52.98. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market cap of $431.81 million, a price-to-earnings ratio of 9.97 and a beta of 0.88. The stock’s fifty day moving average price is $47.48 and its two-hundred day moving average price is $45.46.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. On average, equities analysts forecast that First Business Financial Services will post 5.24 EPS for the current year.

Insider Buying and Selling

In other news, CEO Corey A. Chambas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.81, for a total value of $1,952,400.00. Following the completion of the sale, the chief executive officer now directly owns 112,750 shares in the company, valued at $5,503,327.50. This trade represents a 26.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total value of $49,000.00. Following the completion of the transaction, the director now owns 8,341 shares in the company, valued at approximately $408,709. The trade was a 10.71 % decrease in their position. The disclosure for this sale can be found here. 6.20% of the stock is owned by insiders.

Hedge Funds Weigh In On First Business Financial Services

A number of large investors have recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new position in First Business Financial Services during the third quarter worth $1,657,000. De Lisle Partners LLP increased its position in shares of First Business Financial Services by 43.3% during the third quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock worth $3,040,000 after acquiring an additional 20,183 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Business Financial Services by 307.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock worth $1,115,000 after acquiring an additional 18,458 shares during the last quarter. First Business Financial Services Inc. lifted its position in First Business Financial Services by 3.4% in the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock valued at $16,682,000 after acquiring an additional 12,194 shares in the last quarter. Finally, Fourthstone LLC acquired a new position in First Business Financial Services during the 3rd quarter valued at about $389,000. 60.07% of the stock is currently owned by institutional investors.

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.