First Business Financial Services (NASDAQ:FBIZ) Downgraded to “Hold” at StockNews.com

First Business Financial Services (NASDAQ:FBIZ) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. Piper Sandler increased their price target on shares of First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, DA Davidson raised First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $50.00 in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, First Business Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $50.75.

First Business Financial Services Stock Down 1.3 %

Shares of FBIZ stock traded down $0.58 on Wednesday, hitting $44.39. The stock had a trading volume of 17,417 shares, compared to its average volume of 15,314. First Business Financial Services has a 12-month low of $28.50 and a 12-month high of $47.23. The business has a 50 day moving average of $43.87 and a 200 day moving average of $39.06. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.08 and a quick ratio of 1.07. The stock has a market cap of $367.95 million, a price-to-earnings ratio of 10.23 and a beta of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The firm had revenue of $65.34 million for the quarter, compared to analysts’ expectations of $36.73 million. As a group, analysts expect that First Business Financial Services will post 4.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FBIZ. Price T Rowe Associates Inc. MD increased its position in shares of First Business Financial Services by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock valued at $711,000 after buying an additional 524 shares during the period. Lazard Asset Management LLC purchased a new position in shares of First Business Financial Services during the 1st quarter worth approximately $60,000. BNP Paribas Financial Markets raised 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 acquiring an additional 1,659 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of First Business Financial Services by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 1,998 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of First Business Financial Services during the third quarter valued at approximately $125,000. 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.