StockNews.com Downgrades First Business Financial Services (NASDAQ:FBIZ) to Hold

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First Business Financial Services (NASDAQ:FBIZ – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

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Separately, Raymond James raised their price objective on First Business Financial Services from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, October 31st.

First Business Financial Services Stock Performance

Shares of FBIZ stock traded up $1.06 during trading on Friday, reaching $34.48. The company had a trading volume of 22,726 shares, compared to its average volume of 23,630. The firm’s 50 day simple moving average is $36.49 and its two-hundred day simple moving average is $35.13. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.18 and a quick ratio of 1.18. First Business Financial Services has a one year low of $29.84 and a one year high of $39.88. The company has a market capitalization of $290.70 million, a PE ratio of 7.54 and a beta of 0.76.

First Business Financial Services (NASDAQ:FBIZ – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.25. First Business Financial Services had a return on equity of 16.64% and a net margin of 28.75%. The business had revenue of $34.08 million for the quarter, compared to the consensus estimate of $31.80 million. Sell-side analysts forecast that First Business Financial Services will post 4.68 earnings per share for the current year.

Insiders Place Their Bets

In other First Business Financial Services news, General Counsel Barbara Mccarty Conley sold 3,005 shares of First Business Financial Services stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $37.50, for a total value of $112,687.50. Following the transaction, the general counsel now directly owns 27,002 shares of the company’s stock, valued at approximately $1,012,575. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FBIZ. BlackRock Inc. increased its position in First Business Financial Services by 22.6% in the 3rd quarter. BlackRock Inc. now owns 584,200 shares of the financial services provider’s stock worth $18,877,000 after buying an additional 107,613 shares during the period. Banc Funds Co. LLC grew its holdings in shares of First Business Financial Services by 11.4% during the 2nd quarter. Banc Funds Co. LLC now owns 573,371 shares of the financial services provider’s stock worth $17,883,000 after purchasing an additional 58,500 shares in the last quarter. State Street Corp grew its holdings in shares of First Business Financial Services by 207.6% during the 2nd quarter. State Street Corp now owns 80,973 shares of the financial services provider’s stock worth $2,526,000 after purchasing an additional 54,646 shares in the last quarter. Northern Trust Corp grew its holdings in shares of First Business Financial Services by 113.5% during the 2nd quarter. Northern Trust Corp now owns 100,124 shares of the financial services provider’s stock worth $3,123,000 after purchasing an additional 53,225 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. acquired a new stake in shares of First Business Financial Services during the 3rd quarter worth approximately $1,616,000. 66.11% of the stock is owned by institutional investors.

About First Business Financial Services

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First Business Financial Services, Inc operates as a bank holding company, which engages in the provision of commercial banking services. It offers treasury and investment management, commercial lending, equipment finance, retirement plans, trust and estate administration, private banking and asset-based lending.