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

First Business Financial Services (NASDAQ:FBIZ) had its target price raised by research analysts at Piper Sandler from $58.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 21.58% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $60.67.

First Business Financial Services Stock Performance

First Business Financial Services stock traded down $0.65 during trading on Tuesday, hitting $50.17. The stock had a trading volume of 2,410 shares, compared to its average volume of 35,993. First Business Financial Services has a 1 year low of $42.18 and a 1 year high of $56.46. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average is $50.91 and its two-hundred day moving average is $49.98. The stock has a market cap of $417.57 million, a price-to-earnings ratio of 9.01 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.70 EPS for the quarter, beating the consensus estimate of $1.39 by $0.31. The business had revenue of $44.29 million for the quarter, compared to the consensus estimate of $42.30 million. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. As a group, analysts predict that First Business Financial Services will post 5.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC bought a new position in shares of First Business Financial Services during the first quarter valued at about $258,000. First Business Financial Services Inc. increased its holdings in First Business Financial Services by 4.7% during the 1st quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider’s stock valued at $18,569,000 after purchasing an additional 17,731 shares during the period. Harbor Capital Advisors Inc. increased its holdings in First Business Financial Services by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,883 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 288 shares during the period. CWM LLC increased its holdings in First Business Financial Services by 48.7% during the 1st quarter. CWM LLC now owns 913 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 299 shares during the period. Finally, Informed Momentum Co LLC purchased a new position in First Business Financial Services during the 1st quarter valued at about $831,000. 60.07% of the stock is owned by institutional investors.

First Business Financial Services Company Profile

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.