First Business Financial Services (NASDAQ:FBIZ) Sets New 12-Month High – Still a Buy?

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $61.30 and last traded at $59.36, with a volume of 30189 shares changing hands. The stock had previously closed at $60.62.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FBIZ. Raymond James Financial set a $64.00 price target on First Business Financial Services in a research report on Monday, April 27th. DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of First Business Financial Services in a research note on Monday, April 27th. Finally, Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $65.50.

First Business Financial Services Stock Down 0.8%

The business has a 50-day moving average price of $57.40 and a 200-day moving average price of $56.20. The company has a market capitalization of $497.50 million, a price-to-earnings ratio of 9.80 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last announced 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 company 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%. As a group, equities analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.3%. First Business Financial Services’s payout ratio is 22.41%.

Institutional Investors Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First Business Financial Services by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 234 shares during the period. Franklin Resources Inc. raised its position in shares of First Business Financial Services by 1.1% during the third quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock worth $1,139,000 after purchasing an additional 239 shares during the period. Uncommon Cents Investing LLC grew its holdings in shares of First Business Financial Services by 0.8% during the fourth quarter. Uncommon Cents Investing LLC now owns 34,743 shares of the financial services provider’s stock valued at $1,887,000 after buying an additional 265 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of First Business Financial Services by 1.2% during the fourth quarter. Stifel Financial Corp now owns 23,035 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 272 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of First Business Financial Services by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,635 shares of the financial services provider’s stock valued at $798,000 after buying an additional 298 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.