Today: First Business Financial Services Inc. (FBIZ) Given Average Recommendation of “Hold” by Analysts

Today: First Business Financial Services Inc. (FBIZ) Given Average Recommendation of “Hold” by Analysts

Shares of First Business Financial Services Inc. (NASDAQ:FBIZ) have received an average recommendation of “Hold” from the five brokerages that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $25.33.

A number of brokerages recently issued reports on FBIZ. 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 for the company. Zacks Investment Research cut shares of First Business Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. Raymond James Financial Inc. reissued a “market perform” rating on shares of First Business Financial Services in a research report on Monday, October 31st. Keefe, Bruyette & Woods lowered their price target on shares of First Business Financial Services from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Monday, August 1st. Finally, Sandler O’Neill cut shares of First Business Financial Services from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Monday, August 1st.

In other news, Director John J. Harris bought 2,000 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average cost of $19.09 per share, with a total value of $38,180.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $152,720. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FBIZ. The Manufacturers Life Insurance Company purchased a new position in shares of First Business Financial Services during the third quarter valued at about $10,975,000. Punch & Associates Investment Management Inc. boosted its position in First Business Financial Services by 7.8% in the second quarter. Punch & Associates Investment Management Inc. now owns 414,988 shares of the financial services provider’s stock valued at $9,740,000 after buying an additional 29,873 shares during the last quarter. LSV Asset Management boosted its position in First Business Financial Services by 21.3% in the second quarter. LSV Asset Management now owns 144,825 shares of the financial services provider’s stock valued at $3,399,000 after buying an additional 25,400 shares during the last quarter. Banc Funds Co. LLC boosted its position in First Business Financial Services by 3.8% in the third quarter. Banc Funds Co. LLC now owns 685,728 shares of the financial services provider’s stock valued at $16,115,000 after buying an additional 25,000 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in First Business Financial Services by 8.2% in the third quarter. BlackRock Fund Advisors now owns 233,661 shares of the financial services provider’s stock valued at $5,491,000 after buying an additional 17,646 shares during the last quarter. 57.42% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services (NASDAQ:FBIZ) opened at 21.94 on Wednesday. The company has a market capitalization of $191.01 million, a P/E ratio of 12.84 and a beta of 0.76. The stock’s 50 day moving average is $21.42 and its 200-day moving average is $22.96. First Business Financial Services has a 52-week low of $18.76 and a 52-week high of $27.35.

The company also recently announced a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Thursday, November 10th were issued a $0.12 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.48 annualized dividend and a yield of 2.19%. First Business Financial Services’s dividend payout ratio (DPR) is presently 28.07%.

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