First Business Financial Services (NASDAQ:FBIZ) Reaches New 1-Year High – Here’s Why

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $63.88 and last traded at $62.8020, with a volume of 223850 shares traded. The stock had previously closed at $63.81.

Analysts Set New Price Targets

FBIZ has been the topic of several recent analyst reports. DA Davidson reissued a “buy” rating and set a $65.00 target price on shares of First Business Financial Services in a research report on Monday, April 27th. Weiss Ratings upgraded First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. Finally, Raymond James Financial set a $64.00 price objective on First Business Financial Services in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat.com, First Business Financial Services currently has an average rating of “Buy” and a consensus target price of $65.50.

First Business Financial Services Price Performance

The business’s 50-day moving average price is $57.88 and its 200 day moving average price is $56.60. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $525.01 million, a P/E ratio of 10.27 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.42 by $0.02. The firm had revenue of $44.29 million during the quarter, compared to the consensus estimate of $43.40 million. First Business Financial Services had a net margin of 18.16% and a return on equity of 14.60%. Analysts anticipate that First Business Financial Services, Inc. will post 6.21 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, May 6th. First Business Financial Services’s payout ratio is presently 22.41%.

Institutional Trading of First Business Financial Services

Several institutional investors and hedge funds have recently modified their holdings of FBIZ. Northwestern Mutual Wealth Management Co. bought a new position in shares of First Business Financial Services in the third quarter worth approximately $33,000. State of Alaska Department of Revenue grew its stake in First Business Financial Services by 174.2% in the 4th quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock worth $48,000 after buying an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 worth $65,000 after buying an additional 1,287 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of First Business Financial Services by 356.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after buying an additional 1,476 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of First Business Financial Services during the 3rd quarter valued at $109,000. Hedge funds and other institutional investors 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.