First Business Financial Services (NASDAQ:FBIZ) Sets New 12-Month High – What’s Next?

First Business Financial Services, Inc. (NASDAQ:FBIZ) shares reached a new 52-week high during trading on Monday . The company traded as high as $63.88 and last traded at $62.8020, with a volume of 223850 shares trading hands. The stock had previously closed at $63.81.

Wall Street Analysts Forecast Growth

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

First Business Financial Services Stock Performance

The company has a market capitalization of $525.01 million, a P/E ratio of 10.27 and a beta of 0.68. The business has a 50 day moving average of $57.88 and a 200 day moving average of $56.60. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.02. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The business had revenue of $44.29 million for the quarter, compared to analysts’ expectations of $43.40 million. On average, sell-side analysts predict that First Business Financial Services, Inc. will post 6.21 earnings per share for the current year.

First Business Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.36 annualized dividend and a yield of 2.2%. First Business Financial Services’s dividend payout ratio (DPR) is 22.41%.

Institutional Trading of First Business Financial Services

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of First Business Financial Services during the 3rd quarter valued at about $33,000. State of Alaska Department of Revenue grew its position in 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 worth $48,000 after acquiring an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in 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 worth $65,000 after acquiring an additional 1,287 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in First Business Financial Services by 356.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,476 shares during the last quarter. Finally, Virtus Advisers LLC bought a new stake in First Business Financial Services during the third quarter worth approximately $109,000. 60.07% of the stock is currently owned by institutional investors.

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.