First Business Financial Services (NASDAQ:FBIZ) Reaches New 1-Year High – Here’s Why

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $79.53 and last traded at $78.14, with a volume of 18,105 shares traded. The stock had previously closed at $76.68.

Analysts Set New Price Targets

Several equities research analysts have commented on FBIZ shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Weiss Ratings downgraded First Business Financial Services from a “buy (a+)” rating to a “buy (a)” rating in a research note on Monday. Piper Sandler upped their target price on First Business Financial Services from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Monday. DA Davidson increased their price target on First Business Financial Services from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $83.00 price target on shares of First Business Financial Services in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $82.50.

First Business Financial Services Price Performance

The business’s fifty day moving average is $71.55 and its 200-day moving average is $62.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 1.06. The firm has a market cap of $623.67 million, a PE ratio of 11.59 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, October 29th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.28. First Business Financial Services had a net margin of 19.93% and a return on equity of 15.04%. The firm had revenue of $47.51 million for the quarter, compared to analysts’ expectations of $46.88 million. On average, research analysts predict that First Business Financial Services, Inc. will post 6.94 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 12th. First Business Financial Services’s payout ratio is 19.97%.

Insider Activity at First Business Financial Services

In other First Business Financial Services 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 transaction of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares of the company’s stock, valued at approximately $1,582,784.50. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in First Business Financial Services during the 2nd quarter valued at $43,000. Legal & General Group Plc purchased a new stake in shares of First Business Financial Services during the second quarter worth $51,000. Fifth Third Bancorp bought a new position in shares of First Business Financial Services in the third quarter worth $79,000. Algert Global LLC bought a new position in shares of First Business Financial Services in the second quarter worth $226,000. Finally, NewEdge Advisors LLC bought a new position in shares of First Business Financial Services in the first quarter worth $231,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.