Piper Sandler Forecasts Strong Price Appreciation for First Business Financial Services (NASDAQ:FBIZ) Stock

First Business Financial Services (NASDAQ:FBIZ) had its price objective raised by Piper Sandler from $58.00 to $63.00 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 objective suggests a potential upside of 19.98% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised their price objective on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Raymond James raised their target price on shares of First Business Financial Services from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $58.75.

First Business Financial Services Price Performance

Shares of FBIZ stock opened at $52.51 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. First Business Financial Services has a 12-month low of $32.56 and a 12-month high of $53.79. The firm has a fifty day moving average of $47.48 and a 200-day moving average of $45.48. The firm has a market capitalization of $435.83 million, a price-to-earnings ratio of 10.06 and a beta of 0.88.

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

Insider Activity

In other news, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were 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 of the company’s stock, valued at approximately $408,709. This represents a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Corey A. Chambas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.81, for a total transaction of $1,952,400.00. Following the transaction, the chief executive officer now owns 112,750 shares of the company’s stock, valued at approximately $5,503,327.50. This represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of First Business Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of First Business Financial Services during the 4th quarter valued at $49,000. SG Americas Securities LLC acquired a new stake in shares of First Business Financial Services during the third quarter valued at about $125,000. Squarepoint Ops LLC acquired a new position in shares of First Business Financial Services in the second quarter valued at approximately $204,000. ERn Financial LLC bought a new position in First Business Financial Services in the 3rd quarter valued at approximately $210,000. Finally, Creative Planning acquired a new stake in First Business Financial Services during the 3rd quarter worth approximately $216,000. Institutional investors own 60.07% of the company’s stock.

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.