Raymond James Boosts First Business Financial Services (NASDAQ:FBIZ) Price Target to $62.00

First Business Financial Services (NASDAQ:FBIZ) had its target price raised by equities research analysts at Raymond James from $52.00 to $62.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ target price points to a potential upside of 19.17% from the company’s current price.

Several other analysts have also commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday. StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, Piper Sandler lowered their target price on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, First Business Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ opened at $52.03 on Monday. The company has a market capitalization of $431.81 million, a PE ratio of 9.97 and a beta of 0.88. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average price is $47.48 and its 200-day moving average price is $45.46. First Business Financial Services has a twelve month low of $32.56 and a twelve month high of $52.98.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) 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%. On average, equities analysts anticipate that First Business Financial Services will post 5.24 EPS for the current year.

Insider Buying and Selling at First Business Financial Services

In other news, CEO Corey A. Chambas sold 40,000 shares of the company’s 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 $5,503,327.50. This represents a 26.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William Kent Lorenz sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the transaction, the director now owns 8,341 shares of the company’s stock, valued at $408,709. This trade represents a 10.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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. First Business Financial Services Inc. increased its stake in First Business Financial Services by 3.4% in the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock worth $16,682,000 after acquiring an additional 12,194 shares during the last quarter. JPMorgan Chase & Co. lifted its position in 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 valued at $1,115,000 after purchasing an additional 18,458 shares during the last quarter. De Lisle Partners LLP grew its stake in First Business Financial Services by 43.3% in 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 in the last quarter. Barclays PLC raised its position in shares of First Business Financial Services by 43.8% during the 3rd quarter. Barclays PLC now owns 27,909 shares of the financial services provider’s stock valued at $1,273,000 after buying an additional 8,497 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in First Business Financial Services in the third quarter valued at $1,657,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

First Business Financial Services, Inc 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.