First Business Financial Services, Inc. (NASDAQ:FBIZ) Sees Large Increase in Short Interest

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 70,157 shares, a growth of 21.3% from the January 29th total of 57,853 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 27,864 shares, the short-interest ratio is presently 2.5 days. Based on an average daily volume of 27,864 shares, the short-interest ratio is presently 2.5 days. Approximately 0.9% of the company’s stock are short sold.

Analyst Ratings Changes

FBIZ has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Piper Sandler restated an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. Finally, DA Davidson restated a “buy” rating and issued a $68.00 price target on shares of First Business Financial Services in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, According to MarketBeat, First Business Financial Services presently has an average rating of “Buy” and a consensus target price of $67.00.

First Business Financial Services Stock Performance

FBIZ stock traded down $1.31 on Thursday, hitting $53.53. The company’s stock had a trading volume of 15,100 shares, compared to its average volume of 27,868. The stock has a market cap of $446.60 million, a price-to-earnings ratio of 9.00 and a beta of 0.75. The firm has a 50 day moving average of $56.58 and a two-hundred day moving average of $53.56. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. First Business Financial Services has a 1 year low of $42.18 and a 1 year high of $60.53.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. The business had revenue of $42.22 million during the quarter, compared to analysts’ expectations of $43.10 million. First Business Financial Services had a net margin of 18.02% and a return on equity of 14.77%. Equities analysts predict that First Business Financial Services will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, February 28th. Shareholders of record on Saturday, February 14th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, February 13th. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s payout ratio is currently 22.86%.

Institutional Investors Weigh In On First Business Financial Services

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of First Business Financial Services by 19.7% in the 4th quarter. Invesco Ltd. now owns 11,215 shares of the financial services provider’s stock valued at $609,000 after buying an additional 1,848 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of First Business Financial Services during the 4th quarter worth $219,000. Empowered Funds LLC increased its holdings in shares of First Business Financial Services by 4.5% in the 4th quarter. Empowered Funds LLC now owns 38,327 shares of the financial services provider’s stock valued at $2,081,000 after purchasing an additional 1,666 shares in the last quarter. Vista Investment Management boosted its holdings in First Business Financial Services by 0.8% during the fourth quarter. Vista Investment Management now owns 52,737 shares of the financial services provider’s stock worth $2,864,000 after buying an additional 409 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in First Business Financial Services during the fourth quarter worth about $250,000. Institutional investors and hedge funds 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.