First Business Financial Services (NASDAQ:FBIZ) Hits New 52-Week High – Here’s What Happened

First Business Financial Services, Inc. (NASDAQ:FBIZ) shares hit a new 52-week high on Wednesday . The stock traded as high as $60.75 and last traded at $60.6060, with a volume of 14001 shares trading hands. The stock had previously closed at $59.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FBIZ shares. DA Davidson reissued a “buy” rating and issued a $65.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Raymond James Financial set a $64.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Finally, Weiss Ratings cut shares of First Business Financial Services from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, First Business Financial Services currently has a consensus rating of “Buy” and an average price target of $65.50.

First Business Financial Services Stock Performance

The firm has a market cap of $506.66 million, a PE ratio of 9.98 and a beta of 0.68. The firm has a fifty day moving average price of $56.79 and a 200 day moving average price of $55.85. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.42 by $0.02. The business had revenue of $44.29 million during the quarter, compared to analysts’ expectations of $43.40 million. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%. As a group, equities research analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, May 6th. First Business Financial Services’s dividend payout ratio (DPR) is presently 22.41%.

Institutional Trading of First Business Financial Services

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in First Business Financial Services in the 3rd quarter worth about $33,000. State of Alaska Department of Revenue raised its holdings in shares of 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 purchasing an additional 575 shares during the period. EverSource Wealth Advisors LLC raised 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 purchasing an additional 1,287 shares during the period. Tower Research Capital LLC TRC raised 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 purchasing an additional 1,476 shares during the period. Finally, Virtus Advisers LLC purchased a new position in shares of First Business Financial Services in the 3rd quarter worth about $109,000. 60.07% of the stock is owned by institutional investors and hedge funds.

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.