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

First Business Financial Services, Inc. (NASDAQ:FBIZ) hit a new 52-week high on Tuesday . The stock traded as high as $61.30 and last traded at $59.36, with a volume of 30189 shares traded. The stock had previously closed at $60.62.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FBIZ. Raymond James Financial set a $64.00 target price on First Business Financial Services in a research report on Monday, April 27th. DA Davidson restated 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 cut shares of First Business Financial Services from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $65.50.

First Business Financial Services Trading Down 2.1%

The business’s 50 day moving average price is $57.24 and its two-hundred day moving average price is $56.10. The company has a market capitalization of $496.25 million, a price-to-earnings ratio of 9.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.04.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. The firm had revenue of $44.29 million for the quarter, compared to analyst estimates of $43.40 million. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%. Equities analysts forecast that First Business Financial Services, Inc. will post 6.21 earnings per share 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. Investors of record on Wednesday, May 6th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, May 6th. First Business Financial Services’s payout ratio is presently 22.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in First Business Financial Services by 6.8% during the third quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after acquiring an additional 30,499 shares during the period. Geode Capital Management LLC grew its holdings in First Business Financial Services by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 235,050 shares of the financial services provider’s stock worth $12,765,000 after acquiring an additional 6,347 shares during the period. LSV Asset Management increased its stake in First Business Financial Services by 7.8% in the 4th quarter. LSV Asset Management now owns 134,127 shares of the financial services provider’s stock worth $7,283,000 after purchasing an additional 9,738 shares in the last quarter. AQR Capital Management LLC increased its stake in First Business Financial Services by 26.7% in 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. Finally, Federated Hermes Inc. increased its stake in First Business Financial Services by 45.8% in the 4th quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock worth $5,689,000 after purchasing an additional 32,899 shares in the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

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.