Piper Sandler Issues Positive Forecast for First Business Financial Services (NASDAQ:FBIZ) Stock Price

First Business Financial Services (NASDAQ:FBIZ) had its price target upped by equities researchers at Piper Sandler from $58.00 to $63.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 19.98% from the company’s previous close.

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

First Business Financial Services Stock Performance

NASDAQ:FBIZ opened at $52.51 on Tuesday. The company has a 50-day moving average of $47.48 and a 200-day moving average of $45.48. The firm has a market cap of $435.83 million, a price-to-earnings ratio of 10.06 and a beta of 0.88. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services has a twelve month low of $32.56 and a twelve month high of $53.79.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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%. Analysts forecast that First Business Financial Services will post 5.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction dated 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 directly owns 8,341 shares of the company’s stock, valued at $408,709. The trade was a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. This represents a 26.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in FBIZ. Segall Bryant & Hamill LLC acquired a new stake in First Business Financial Services in the third quarter worth about $1,657,000. De Lisle Partners LLP grew its position in shares of First Business Financial Services by 43.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock worth $3,040,000 after buying an additional 20,183 shares during the period. JPMorgan Chase & Co. raised its stake in shares of First Business Financial Services by 307.1% during the third quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 18,458 shares during the last quarter. First Business Financial Services Inc. lifted its holdings in First Business Financial Services by 3.4% in the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock valued at $16,682,000 after buying an additional 12,194 shares during the period. Finally, Fourthstone LLC bought a new position in First Business Financial Services in the third quarter valued at approximately $389,000. 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.