First Business Financial Services, Inc. (NASDAQ:FBIZ) Short Interest Up 25.1% in March

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 67,326 shares, a growth of 25.1% from the February 26th total of 53,801 shares. Based on an average daily volume of 28,158 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.8% of the company’s stock are short sold.

Hedge Funds Weigh In On First Business Financial Services

A number of institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in shares of First Business Financial Services by 163.2% in the third quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock valued at $30,000 after buying an additional 364 shares during the last quarter. Hollencrest Capital Management lifted its holdings in First Business Financial Services by 198.0% during the 2nd quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 406 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in First Business Financial Services during the third quarter worth $33,000. State of Alaska Department of Revenue increased its holdings in shares of First Business Financial Services by 174.2% in the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 575 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of First Business Financial Services by 32,175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,287 shares during the period. Institutional investors and hedge funds own 60.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FBIZ shares. DA Davidson reaffirmed a “buy” rating and set a $68.00 price objective on shares of First Business Financial Services in a research report on Monday, February 2nd. Piper Sandler restated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of First Business Financial Services in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Business Financial Services in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised their price target 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. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, First Business Financial Services presently has an average rating of “Buy” and an average target price of $67.00.

First Business Financial Services Stock Up 2.1%

Shares of NASDAQ FBIZ traded up $1.12 during trading hours on Monday, hitting $54.11. The company had a trading volume of 26,423 shares, compared to its average volume of 30,509. First Business Financial Services has a 1-year low of $42.18 and a 1-year high of $60.53. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $55.79 and its 200-day moving average is $53.73. The stock has a market capitalization of $451.28 million, a P/E ratio of 9.09 and a beta of 0.75.

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

First Business Financial Services Increases Dividend

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

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.