Fintel reports that on July 31, 2023, Raymond James maintained coverage of First Business Financial Services (NASDAQ:FBIZ) with a Outperform recommendation.
Analyst Price Forecast Suggests 6.00% Upside
As of July 6, 2023, the average one-year price target for First Business Financial Services is 36.21. The forecasts range from a low of 31.31 to a high of $39.90. The average price target represents an increase of 6.00% from its latest reported closing price of 34.16.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for First Business Financial Services is 144MM, an increase of 7.27%. The projected annual non-GAAP EPS is 4.43.
What is the Fund Sentiment?
There are 240 funds or institutions reporting positions in First Business Financial Services. This is a decrease of 1 owner(s) or 0.41% in the last quarter. Average portfolio weight of all funds dedicated to FBIZ is 0.11%, an increase of 17.68%. Total shares owned by institutions decreased in the last three months by 0.49% to 6,222K shares. 
The put/call ratio of FBIZ is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Banc Funds Co holds 459K shares representing 5.53% ownership of the company. No change in the last quarter.
First Business Financial Services holds 355K shares representing 4.27% ownership of the company. In it's prior filing, the firm reported owning 355K shares, representing a decrease of 0.15%. The firm decreased its portfolio allocation in FBIZ by 22.16% over the last quarter.
Manufacturers Life Insurance Company, The holds 308K shares representing 3.72% ownership of the company. In it's prior filing, the firm reported owning 316K shares, representing a decrease of 2.39%. The firm decreased its portfolio allocation in FBIZ by 26.97% over the last quarter.
M3F holds 282K shares representing 3.41% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 205K shares representing 2.48% ownership of the company. No change in the last quarter.
First Business Financial Services Background Information
(This description is provided by the company.)
First Business Financial Services, Inc. is the parent company of First Business Bank. First Business Bank specializes in business banking, including commercial banking and specialty finance, private wealth, and bank consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty finance solutions are delivered through First Business Bank's wholly owned subsidiary First Business Specialty Finance, LLC.
Additional reading:
- Slides from Investor Presentation
- First Business Bank Declares Quarterly Cash Dividends
- FIRST BUSINESS BANK REPORTS SECOND QUARTER 2023 NET INCOME OF $8.1 MILLION -- Strong performance driven by robust loan growth, sustained deposit growth, and positive operating leverage --
- CEO REPORT – FIRST QUARTER 2023 DEAR SHAREHOLDERS AND FRIENDS OF FIRST BUSINESS BANK: The first quarter of 2023 was an unusual and tumultuous time for the banking industry. And in some ways, it was even more unusual for First Business Bank than the r
- The meeting will begin promptly at 10:00 a.m. CDT on Friday, April 28, 2023 First Business Financial Services, Inc. 2023 Annual Meeting of Shareholders To submit questions and/or vote during the Annual Meeting, you will need your voter control number
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
