First Business Financial Services (NASDAQ:FBIZ) Hits New 12-Month High – Still a Buy?

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) hit a new 52-week high during trading on Monday . The company traded as high as $73.74 and last traded at $72.9630, with a volume of 9283 shares changing hands. The stock had previously closed at $72.76.

Wall Street Analyst Weigh In

FBIZ has been the topic of several analyst reports. DA Davidson set a $80.00 price target on shares of First Business Financial Services and gave the stock a “buy” rating in a research note on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Weiss Ratings restated a “buy (a-)” rating on shares of First Business Financial Services in a research note on Friday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, First Business Financial Services currently has a consensus rating of “Buy” and an average target price of $75.50.

First Business Financial Services Trading Up 0.3%

The stock has a market cap of $609.75 million, a P/E ratio of 11.11 and a beta of 0.65. The stock’s 50-day moving average is $69.25 and its two-hundred day moving average is $61.35. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. The company had revenue of $46.71 million for the quarter, compared to the consensus estimate of $45.42 million. Equities research analysts anticipate that First Business Financial Services, Inc. will post 6.56 EPS for the current year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 12th. First Business Financial Services’s payout ratio is 20.73%.

Insider Activity at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the sale, the insider directly owned 22,550 shares in the company, valued at approximately $1,582,784.50. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of First Business Financial Services

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of First Business Financial Services during the 2nd quarter valued at about $43,000. Legal & General Group Plc bought a new position in shares of First Business Financial Services in the 2nd quarter valued at about $51,000. Eurizon Capital SGR S.p.A. purchased a new position in First Business Financial Services in the fourth quarter worth about $156,000. Algert Global LLC purchased a new position in First Business Financial Services in the second quarter worth about $226,000. Finally, Jones Financial Companies Lllp bought a new stake in First Business Financial Services during the second quarter worth approximately $234,000. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc is the holding company for First Business Bank, a full-service financial institution focused on serving privately held businesses, business owners, professionals and high-net-worth individuals. Through its banking subsidiary, the company provides commercial banking, business lending and deposit services tailored to the needs of small and middle-market companies.

Its products and services include commercial real estate and working-capital loans, equipment financing, lines of credit, treasury management, checking and savings accounts, certificates of deposit, and other business deposit products.