First Business Financial Services (NASDAQ:FBIZ) Sees Unusually-High Trading Volume – What’s Next?

First Business Financial Services, Inc. (NASDAQ:FBIZ) saw strong trading volume on Tuesday. 35,429 shares were traded during mid-day trading, a decline of 26% from the previous session’s volume of 47,618 shares. The stock last traded at $71.3650 and had previously closed at $70.52.

Analysts Set New Price Targets

FBIZ has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Raymond James Financial initiated coverage on First Business Financial Services in a report on Thursday, October 1st. They issued an “outperform” rating and a $75.00 target price for the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. DA Davidson set a $80.00 target price on First Business Financial Services and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, First Business Financial Services presently has a consensus rating of “Buy” and an average target price of $78.25.

First Business Financial Services Trading Down 0.1%

The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $593.43 million, a price-to-earnings ratio of 10.81 and a beta of 0.67. The company’s 50 day simple moving average is $70.64 and its two-hundred day simple moving average is $64.42.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.56 by $0.28. The business had revenue of $46.71 million during the quarter, compared to analysts’ expectations of $45.42 million. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. Research analysts expect that First Business Financial Services, Inc. will post 6.59 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 12th. First Business Financial Services’s dividend payout ratio is currently 20.73%.

Insider Transactions at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of First Business Financial Services stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $70.19, for a total value of $47,378.25. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of First Business Financial Services in the second quarter valued at about $58,646,000. The Manufacturers Life Insurance Company bought a new position in shares of First Business Financial Services in the second quarter worth about $15,351,000. De Lisle Partners LLP acquired a new position in shares of First Business Financial Services during the 2nd quarter worth about $6,258,000. Vista Investment Management acquired a new position in shares of First Business Financial Services during the 2nd quarter worth about $3,307,000. Finally, Empowered Funds LLC bought a new stake in First Business Financial Services during the 2nd quarter valued at approximately $2,853,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

About First Business Financial Services

First Business Financial Services, Inc is a bank holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, First Business Bank, the company provides commercial banking services primarily to small and middle-market businesses, business owners, professionals and individuals.

First Business Bank offers business checking and savings accounts, treasury management, commercial real estate lending, business loans, lines of credit, equipment financing and other lending solutions.