First Business Financial Services (NASDAQ:FBIZ – Get Free Report) had its price target cut by Piper Sandler from $56.00 to $53.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 20.78% from the company’s current price.
FBIZ has been the subject of several other research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $51.00 price objective (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson raised First Business Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock 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 given a buy rating to the stock. According to data from MarketBeat, First Business Financial Services has a consensus rating of “Moderate Buy” and an average price target of $50.00.
Check Out Our Latest Stock Report on FBIZ
First Business Financial Services Stock Down 0.8 %
First Business Financial Services (NASDAQ:FBIZ – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The company had revenue of $66.39 million during the quarter, compared to analyst estimates of $38.80 million. During the same quarter last year, the business posted $1.17 EPS. Analysts forecast that First Business Financial Services will post 4.7 earnings per share for the current year.
Hedge Funds Weigh In On First Business Financial Services
Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in First Business Financial Services by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock worth $19,893,000 after purchasing an additional 7,871 shares during the period. Vanguard Group Inc. increased its position in First Business Financial Services by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock valued at $13,540,000 after purchasing an additional 7,499 shares during the period. Quadrature Capital Ltd purchased a new position in shares of First Business Financial Services during the first quarter valued at about $247,000. Squarepoint Ops LLC bought a new position in First Business Financial Services in the second quarter worth about $204,000. Finally, Beese Fulmer Investment Management Inc. bought a new position in First Business Financial Services in the third quarter worth about $217,000. 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.
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