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

StockNews.com downgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a buy rating to a hold rating in a research note published on Wednesday.

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

First Business Financial Services Stock Down 1.3 %

First Business Financial Services stock opened at $44.39 on Wednesday. First Business Financial Services has a 1-year low of $28.50 and a 1-year high of $47.23. The firm has a market capitalization of $367.95 million, a price-to-earnings ratio of 10.23 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. The firm has a 50 day simple moving average of $43.87 and a 200 day simple moving average of $39.06.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data 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 business had revenue of $65.34 million during the quarter, compared to analyst estimates of $36.73 million. On average, analysts predict that First Business Financial Services will post 4.7 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, August 8th. First Business Financial Services’s dividend payout ratio is currently 23.04%.

Institutional Trading of First Business Financial Services

A number of hedge funds have recently made changes to their positions in the stock. Beese Fulmer Investment Management Inc. bought a new stake in shares of First Business Financial Services during the 3rd quarter worth $217,000. ERn Financial LLC bought a new stake in shares of First Business Financial Services during the 3rd quarter worth $210,000. Creative Planning bought a new stake in shares of First Business Financial Services during the 3rd quarter worth $216,000. SG Americas Securities LLC bought a new stake in shares of First Business Financial Services during the 3rd quarter worth $125,000. Finally, Squarepoint Ops LLC bought a new stake in shares of First Business Financial Services during the 2nd quarter worth $204,000. 60.07% of the stock is 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.