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

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $73.74 and last traded at $72.9630, with a volume of 9283 shares. The stock had previously closed at $72.76.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (a-)” rating on shares of First Business Financial Services in a research note on Friday. DA Davidson set a $80.00 target price on shares of First Business Financial Services and gave the stock a “buy” rating in a report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and issued a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $75.50.

First Business Financial Services Stock Up 0.1%

The company has a 50-day moving average of $68.89 and a two-hundred day moving average of $61.11. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $609.44 million, a PE ratio of 11.10 and a beta of 0.65.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.28. The firm had revenue of $46.71 million during the quarter, compared to analysts’ expectations of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. Sell-side analysts anticipate that First Business Financial Services, Inc. will post 6.56 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given 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 payout ratio is currently 20.73%.

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 shares were sold at an average price of $70.19, for a total transaction of $47,378.25. Following the completion of the transaction, the insider owned 22,550 shares in the company, valued at $1,582,784.50. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On First Business Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new stake in First Business Financial Services during 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 second quarter valued at approximately $43,000. Squarepoint Ops LLC boosted its holdings in shares of First Business Financial Services by 95.1% in the second quarter. Squarepoint Ops LLC now owns 28,061 shares of the financial services provider’s stock valued at $1,773,000 after purchasing an additional 13,681 shares during the period. California State Teachers Retirement System grew its stake in First Business Financial Services by 1,530.7% in the second quarter. California State Teachers Retirement System now owns 7,012 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 6,582 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of First Business Financial Services during the 2nd quarter worth $2,853,000. 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 holding company for First Business Bank, a full-service financial institution focused on serving privately held businesses, business owners, professionals and high-net-worth individuals. Through its banking subsidiary, the company provides commercial banking, business lending and deposit services tailored to the needs of small and middle-market companies.

Its products and services include commercial real estate and working-capital loans, equipment financing, lines of credit, treasury management, checking and savings accounts, certificates of deposit, and other business deposit products.