First Business Financial Services (NASDAQ:FBIZ) Hits New 12-Month High – Here’s Why

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) hit a new 52-week high on Monday . The stock traded as high as $65.49 and last traded at $64.1450, with a volume of 45395 shares. The stock had previously closed at $63.85.

Analyst Ratings Changes

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

First Business Financial Services Stock Performance

The stock’s 50-day moving average is $58.44 and its 200-day moving average is $56.85. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The stock has a market cap of $537.88 million, a price-to-earnings ratio of 10.60 and a beta of 0.66.

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

First Business Financial Services Announces Dividend

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

Institutional Trading of First Business Financial Services

A number of institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. purchased a new position in First Business Financial Services in the third quarter valued at about $33,000. State of Alaska Department of Revenue boosted its position 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 worth $48,000 after buying an additional 575 shares during the period. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 1,287 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of First Business Financial Services by 356.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after buying an additional 1,476 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of First Business Financial Services during the 3rd quarter valued at about $109,000. 60.07% of the stock is owned by hedge funds and other 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.