First Business Financial Services, Inc. (NASDAQ:FBIZ) Short Interest Up 7.0% in June

First Business Financial Services, Inc. (NASDAQ:FBIZ) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 20,000 shares, a growth of 7.0% from the May 31st total of 18,700 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 12,200 shares, the days-to-cover ratio is currently 1.6 days.

Insider Buying and Selling

In related news, Director William Kent Lorenz sold 1,345 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $34.51, for a total transaction of $46,415.95. Following the sale, the director now directly owns 9,836 shares of the company’s stock, valued at approximately $339,440.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Business Financial Services

Several hedge funds have recently added to or reduced their stakes in FBIZ. Lazard Asset Management LLC acquired a new position in First Business Financial Services in the first quarter worth about $60,000. BNP Paribas Financial Markets boosted its position in shares of First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,659 shares during the period. New York State Common Retirement Fund boosted its stake in First Business Financial Services by 70.7% in the 4th quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,601 shares during the period. SG Americas Securities LLC grew its holdings in shares of First Business Financial Services by 28.1% during the fourth quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock valued at $172,000 after buying an additional 938 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of First Business Financial Services in the 1st quarter valued at about $247,000. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on FBIZ shares. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler reaffirmed an “overweight” rating and set a $44.00 target price on shares of First Business Financial Services in a research report on Monday, March 18th.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ traded down $0.25 during midday trading on Wednesday, reaching $36.28. 2,731 shares of the company’s stock traded hands, compared to its average volume of 13,420. First Business Financial Services has a 1 year low of $28.35 and a 1 year high of $41.03. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day simple moving average of $34.44 and a two-hundred day simple moving average of $35.57. The company has a market cap of $300.76 million, a P/E ratio of 8.36 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Friday, April 26th. The financial services provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.09). First Business Financial Services had a return on equity of 13.51% and a net margin of 15.48%. The firm had revenue of $62.54 million for the quarter, compared to analysts’ expectations of $37.47 million. Equities analysts predict that First Business Financial Services will post 4.52 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Thursday, May 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.76%. First Business Financial Services’s dividend payout ratio (DPR) is presently 23.04%.

About First Business Financial Services

First Business Financial Services, Inc operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals in Wisconsin, Kansas, and Missouri.