Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Drops By 18.4%

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 57,853 shares, a drop of 18.4% from the January 15th total of 70,899 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 25,968 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily volume of 25,968 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of FBIZ. Versant Capital Management Inc increased its stake in shares of First Business Financial Services by 163.2% during the third quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock valued at $30,000 after buying an additional 364 shares during the period. Hollencrest Capital Management boosted its holdings in First Business Financial Services by 198.0% in the second quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 406 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in First Business Financial Services in the 3rd quarter worth $33,000. State of Alaska Department of Revenue lifted its position in shares of First Business Financial Services by 174.2% in the 4th quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 575 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of First Business Financial Services by 32,175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,287 shares in the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

First Business Financial Services Stock Performance

Shares of FBIZ stock opened at $58.72 on Wednesday. The company has a market capitalization of $488.79 million, a P/E ratio of 9.87 and a beta of 0.76. First Business Financial Services has a fifty-two week low of $42.18 and a fifty-two week high of $60.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $56.82 and a two-hundred day moving average price of $53.00.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, January 29th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.38 by $0.20. First Business Financial Services had a net margin of 18.02% and a return on equity of 15.05%. The company had revenue of $42.22 million for the quarter, compared to the consensus estimate of $43.10 million. Analysts expect that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.29. This represents a $1.36 annualized dividend and a dividend yield of 2.3%. First Business Financial Services’s payout ratio is 22.86%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FBIZ. DA Davidson restated a “buy” rating and set a $68.00 price objective on shares of First Business Financial Services in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped their price objective on First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Piper Sandler reissued an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $67.00.

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.