Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Declines By 18.4%

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 57,853 shares, a decline of 18.4% from the January 15th total of 70,899 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 25,968 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 25,968 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Trading of First Business Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in First Business Financial Services by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 105,951 shares of the financial services provider’s stock valued at $5,753,000 after purchasing an additional 22,334 shares during the period. Lazard Asset Management LLC lifted its holdings in First Business Financial Services by 6.9% in the fourth quarter. Lazard Asset Management LLC now owns 12,461 shares of the financial services provider’s stock valued at $677,000 after buying an additional 799 shares during the period. Trexquant Investment LP acquired a new position in First Business Financial Services in the fourth quarter valued at approximately $671,000. Price T Rowe Associates Inc. MD boosted its stake in First Business Financial Services by 14.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,768 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 586 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in First Business Financial Services by 64.7% during the 4th quarter. State of Wisconsin Investment Board now owns 9,576 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 3,761 shares during the period. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson reiterated a “buy” rating and set a $68.00 target price on shares of First Business Financial Services in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods raised their target price on First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and a consensus price target of $67.00.

First Business Financial Services Price Performance

NASDAQ FBIZ traded up $0.36 on Tuesday, hitting $58.72. 19,776 shares of the company were exchanged, compared to its average volume of 26,432. First Business Financial Services has a 1-year low of $42.18 and a 1-year high of $60.53. The firm has a 50 day moving average of $56.82 and a two-hundred day moving average of $53.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77. The company has a market cap of $488.55 million, a P/E ratio of 9.87 and a beta of 0.76.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. The company had revenue of $42.22 million during the quarter, compared to the consensus estimate of $43.10 million. First Business Financial Services had a net margin of 18.02% and a return on equity of 15.05%. On average, equities analysts predict that First Business Financial Services will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, February 13th. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.3%. First Business Financial Services’s dividend payout ratio is presently 22.86%.

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.