First Business Financial Services (NASDAQ:FBIZ) Hits New 12-Month High – Should You Buy?

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $65.98 and last traded at $65.8550, with a volume of 9183 shares. The stock had previously closed at $64.06.

Wall Street Analysts Forecast Growth

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

First Business Financial Services Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $59.53 and its 200 day moving average is $57.24. The firm has a market capitalization of $552.29 million, a price-to-earnings ratio of 10.93 and a beta of 0.66.

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 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 net margin of 18.16% and a return on equity of 14.60%. On average, equities research analysts anticipate that First Business Financial Services, Inc. will post 6.21 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

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

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. grew its position in First Business Financial Services by 45.8% during the fourth quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock worth $5,689,000 after buying an additional 32,899 shares in the last quarter. Daytona Street Capital LLC acquired a new position in First Business Financial Services in the 4th quarter valued at $1,672,000. Vanguard Group Inc. lifted its position in shares of First Business Financial Services by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock valued at $24,691,000 after acquiring an additional 30,499 shares during the period. First Trust Advisors LP lifted its position in shares of First Business Financial Services by 469.9% during the 3rd quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 24,949 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of 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 worth $5,753,000 after purchasing an additional 22,334 shares in the last quarter. 60.07% of the stock is currently owned by institutional investors.

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.