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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. DA Davidson restated a “buy” rating and issued a $65.00 price objective on shares of First Business Financial Services in a report on Monday, April 27th. Weiss Ratings downgraded First Business Financial Services from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Finally, Raymond James Financial set a $64.00 target price on First Business Financial Services in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $65.50.

First Business Financial Services Stock Up 2.3%

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

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. The business had revenue of $44.29 million during the quarter, compared to the consensus estimate of $43.40 million. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%. Equities research analysts anticipate that First Business Financial Services, Inc. will post 6.21 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of First Business Financial Services in the 3rd quarter worth approximately $33,000. State of Alaska Department of Revenue grew its position 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 acquiring an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in First Business Financial Services by 32,175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,287 shares during the period. Tower Research Capital LLC TRC boosted its position in First Business Financial Services by 356.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 1,476 shares during the period. Finally, Virtus Advisers LLC acquired a new position in First Business Financial Services during the 3rd quarter valued at approximately $109,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

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.