First Business Financial Services (FBIZ) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $28.00 price objective on the financial services provider’s stock.

According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “

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FBIZ has been the topic of several other reports. ValuEngine upgraded shares of First Business Financial Services from a hold rating to a buy rating in a research report on Thursday, March 1st. Sandler O’Neill reiterated a hold rating and set a $26.00 target price on shares of First Business Financial Services in a research report on Tuesday, March 27th. Finally, TheStreet upgraded shares of First Business Financial Services from a c+ rating to a b- rating in a research report on Tuesday, December 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $26.33.

Shares of First Business Financial Services stock opened at $25.16 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.29. First Business Financial Services has a twelve month low of $20.57 and a twelve month high of $28.43. The stock has a market cap of $220.52, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.68 and a beta of 0.99.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.06. First Business Financial Services had a net margin of 12.87% and a return on equity of 7.13%. The business had revenue of $18.88 million for the quarter, compared to analyst estimates of $19.69 million. research analysts forecast that First Business Financial Services will post 1.87 earnings per share for the current year.

In related news, insider Charles H. Batson sold 2,050 shares of First Business Financial Services stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $24.04, for a total transaction of $49,282.00. Following the completion of the transaction, the insider now directly owns 24,482 shares of the company’s stock, valued at approximately $588,547.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Ovokaitys sold 1,077 shares of First Business Financial Services stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $24.18, for a total transaction of $26,041.86. The disclosure for this sale can be found here. Insiders have sold a total of 4,381 shares of company stock valued at $106,987 over the last three months. 8.30% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. M3F Inc. lifted its holdings in First Business Financial Services by 283.0% during the 4th quarter. M3F Inc. now owns 107,311 shares of the financial services provider’s stock valued at $2,374,000 after purchasing an additional 79,295 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in First Business Financial Services during the 4th quarter valued at about $220,000. Deutsche Bank AG lifted its holdings in First Business Financial Services by 8.7% during the 4th quarter. Deutsche Bank AG now owns 39,466 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 3,153 shares during the last quarter. Martingale Asset Management L P lifted its holdings in First Business Financial Services by 6.3% during the 4th quarter. Martingale Asset Management L P now owns 48,917 shares of the financial services provider’s stock valued at $1,083,000 after purchasing an additional 2,902 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in First Business Financial Services by 0.8% during the 4th quarter. BlackRock Inc. now owns 417,491 shares of the financial services provider’s stock valued at $9,236,000 after purchasing an additional 3,455 shares during the last quarter. 60.21% of the stock is owned by hedge funds and other institutional investors.

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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. The company's deposit products include non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, and time deposits, as well as certificates of deposit.

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