First Business Financial Services (NASDAQ:FBIZ) Stock Breaks Above Two Hundred Day Moving Average – Time to Sell?

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $64.01 and traded as high as $71.55. First Business Financial Services shares last traded at $70.52, with a volume of 60,744 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Raymond James Financial began coverage on shares of First Business Financial Services in a research note on Thursday, October 1st. They issued an “outperform” rating and a $75.00 target price for the company. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. DA Davidson set a $80.00 price target on First Business Financial Services and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and an average target price of $78.25.

First Business Financial Services Stock Up 0.6%

The firm’s 50 day simple moving average is $70.66 and its two-hundred day simple moving average is $64.01. The firm has a market cap of $590.25 million, a price-to-earnings ratio of 10.75 and a beta of 0.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.28. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. The firm had revenue of $46.71 million during the quarter, compared to analysts’ expectations of $45.42 million. On average, equities analysts forecast that First Business Financial Services, Inc. will post 6.59 EPS for the current year.

First Business Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 12th. First Business Financial Services’s dividend payout ratio (DPR) is presently 20.73%.

Insiders Place Their Bets

In other news, insider Jodi Chandler sold 675 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares in the company, valued at approximately $1,582,784.50. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in First Business Financial Services in the 2nd quarter valued at about $255,000. Integrated Wealth Concepts LLC bought a new stake in shares of First Business Financial Services during the 2nd quarter worth $43,000. Squarepoint Ops LLC boosted its holdings in shares of First Business Financial Services by 95.1% in the 2nd quarter. Squarepoint Ops LLC now owns 28,061 shares of the financial services provider’s stock worth $1,773,000 after buying an additional 13,681 shares during the last quarter. Empowered Funds LLC purchased a new stake in First Business Financial Services during the second quarter worth about $2,853,000. Finally, Bank of America Corp DE purchased a new position in First Business Financial Services in the second quarter valued at about $1,515,000. 60.07% of the stock is owned by institutional investors and hedge funds.

About First Business Financial Services

First Business Financial Services, Inc is a bank holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, First Business Bank, the company provides commercial banking services primarily to small and middle-market businesses, business owners, professionals and individuals.

First Business Bank offers business checking and savings accounts, treasury management, commercial real estate lending, business loans, lines of credit, equipment financing and other lending solutions.