First Business Financial Services (NASDAQ:FBIZ) Raised to Moderate Buy at Raymond James Financial

First Business Financial Services (NASDAQ:FBIZ) was upgraded by equities researchers at Raymond James Financial to a “moderate buy” rating in a report released on Wednesday, Zacks reports.

FBIZ has been the topic of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. DA Davidson set a $80.00 target price on shares of First Business Financial Services and gave the company a “buy” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of First Business Financial Services in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $78.25.

First Business Financial Services Price Performance

Shares of FBIZ stock opened at $70.93 on Wednesday. The stock’s 50-day moving average is $70.63 and its 200 day moving average is $62.79. First Business Financial Services has a 1-year low of $46.07 and a 1-year high of $73.74. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $593.68 million, a P/E ratio of 10.81 and a beta of 0.67.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.28. The business had revenue of $46.71 million during the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. Research analysts predict that First Business Financial Services will post 6.56 earnings per share for the current fiscal year.

Insider Activity at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares of the company’s stock, valued at $1,582,784.50. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is owned by insiders.

Institutional Trading of First Business Financial Services

Several large investors have recently bought and sold shares of FBIZ. Vista Investment Management purchased a new position in shares of First Business Financial Services in the second quarter worth $3,307,000. De Lisle Partners LLP acquired a new stake in shares of First Business Financial Services during the second quarter worth $6,258,000. The Manufacturers Life Insurance Company acquired a new stake in shares of First Business Financial Services during the second quarter worth $15,351,000. Empowered Funds LLC purchased a new stake in shares of First Business Financial Services during the second quarter valued at $2,853,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of First Business Financial Services during the second quarter valued at $2,061,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

First Business Financial Services, Inc is a bank holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, First Business Bank, the company provides commercial banking services primarily to small and middle-market businesses, business owners, professionals and individuals.

First Business Bank offers business checking and savings accounts, treasury management, commercial real estate lending, business loans, lines of credit, equipment financing and other lending solutions.