DA Davidson Reaffirms Buy Rating for First Business Financial Services (NASDAQ:FBIZ)

First Business Financial Services (NASDAQ:FBIZ)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $68.00 target price on the financial services provider’s stock. DA Davidson’s price target would suggest a potential upside of 14.61% from the stock’s current price.

FBIZ has been the subject of several other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price target on shares of First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Piper Sandler lifted their price objective on shares of First Business Financial Services from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $67.00.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ opened at $59.33 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average of $55.70 and a 200-day moving average of $52.36. The stock has a market capitalization of $493.63 million, a price-to-earnings ratio of 9.97 and a beta of 0.76. First Business Financial Services has a fifty-two week low of $42.18 and a fifty-two week high of $59.85.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.38 by $0.20. The firm had revenue of $42.22 million during the quarter, compared to analysts’ expectations of $43.10 million. First Business Financial Services had a return on equity of 15.05% and a net margin of 18.02%. As a group, sell-side analysts predict that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in First Business Financial Services by 163.2% during the third quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 364 shares during the last quarter. Hollencrest Capital Management increased its stake in shares of First Business Financial Services by 198.0% during the second quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 406 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of First Business Financial Services during the third quarter worth approximately $33,000. State of Alaska Department of Revenue lifted its holdings in First Business Financial Services by 174.2% during the 4th quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 575 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in First Business Financial Services by 32,175.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,287 shares during the period. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.