First Business Financial Services (NASDAQ:FBIZ) Hits New 1-Year High – What’s Next?

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $65.98 and last traded at $65.8550, with a volume of 9183 shares traded. The stock had previously closed at $64.06.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FBIZ. DA Davidson reissued a “buy” rating and set a $65.00 price objective on shares of First Business Financial Services in a research note on Monday, April 27th. Raymond James Financial set a $64.00 price target on shares of First Business Financial Services in a research report on Monday, April 27th. Finally, Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, First Business Financial Services has an average rating of “Buy” and a consensus price target of $65.50.

First Business Financial Services Price Performance

The company’s 50-day moving average price is $59.53 and its 200-day moving average price is $57.24. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market cap of $552.29 million, a P/E ratio of 10.93 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data 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 business had revenue of $44.29 million for the quarter, compared to analysts’ expectations of $43.40 million. First Business Financial Services had a net margin of 18.16% and a return on equity of 14.60%. As a group, sell-side analysts predict that First Business Financial Services, Inc. will post 6.21 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 6th. First Business Financial Services’s dividend payout ratio is currently 22.41%.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors have recently bought and sold shares of FBIZ. Federated Hermes Inc. grew its position in First Business Financial Services by 45.8% in the fourth quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock valued at $5,689,000 after purchasing an additional 32,899 shares in the last quarter. Daytona Street Capital LLC acquired a new position in shares of First Business Financial Services during the 4th quarter worth about $1,672,000. Vanguard Group Inc. grew its holdings in shares of First Business Financial Services by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock valued at $24,691,000 after acquiring an additional 30,499 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of First Business Financial Services by 469.9% in the 3rd quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 24,949 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of First Business Financial Services by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 105,951 shares of the financial services provider’s stock valued at $5,753,000 after acquiring an additional 22,334 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

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.