First Business Financial Services Inc (FBIZ) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of First Business Financial Services Inc (NASDAQ:FBIZ) from a sell rating to a hold rating in a research report released on Friday.

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. “

Separately, DA Davidson began coverage on shares of First Business Financial Services in a research report on Wednesday, November 23rd. They set a neutral rating and a $24.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $25.75.

First Business Financial Services (NASDAQ:FBIZ) traded down 0.6075% on Friday, reaching $25.6234. 22,328 shares of the company traded hands. First Business Financial Services has a 52-week low of $18.76 and a 52-week high of $26.47. The company has a market capitalization of $223.38 million, a PE ratio of 14.9844 and a beta of 0.86. The stock has a 50-day moving average of $25.14 and a 200 day moving average of $23.32.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. First Business Financial Services had a net margin of 15.37% and a return on equity of 9.36%. On average, equities analysts forecast that First Business Financial Services will post $1.77 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Friday, February 10th were given a dividend of $0.13 per share. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. First Business Financial Services’s dividend payout ratio (DPR) is currently 30.59%.

In other First Business Financial Services news, insider Charles H. Batson sold 1,957 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $25.52, for a total value of $49,942.64. Following the sale, the insider now owns 29,207 shares in the company, valued at $745,362.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Losenegger sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $24.32, for a total transaction of $121,600.00. Following the completion of the sale, the insider now owns 33,518 shares in the company, valued at approximately $815,157.76. The disclosure for this sale can be found here. Insiders have sold a total of 36,977 shares of company stock worth $915,201 in the last quarter. 8.30% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of FBIZ. Delphi Management Inc. MA raised its stake in shares of First Business Financial Services by 1.1% in the third quarter. Delphi Management Inc. MA now owns 20,283 shares of the financial services provider’s stock worth $477,000 after buying an additional 225 shares in the last quarter. Strs Ohio raised its stake in shares of First Business Financial Services by 16.3% in the third quarter. Strs Ohio now owns 5,000 shares of the financial services provider’s stock worth $117,000 after buying an additional 700 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of First Business Financial Services by 2.3% in the third quarter. Nationwide Fund Advisors now owns 33,950 shares of the financial services provider’s stock worth $798,000 after buying an additional 775 shares in the last quarter. Martingale Asset Management L P raised its stake in shares of First Business Financial Services by 3.9% in the fourth quarter. Martingale Asset Management L P now owns 40,314 shares of the financial services provider’s stock worth $957,000 after buying an additional 1,500 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of First Business Financial Services by 36.8% in the fourth quarter. Bessemer Group Inc. now owns 7,800 shares of the financial services provider’s stock worth $185,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 56.89% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks).

5 Day Chart for NASDAQ:FBIZ

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