First Business Financial Services, Inc. (NASDAQ:FBIZ) Short Interest Update

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 53,801 shares, a drop of 23.3% from the February 12th total of 70,157 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 35,283 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily trading volume, of 35,283 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in First Business Financial Services by 3.3% in the first quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 431 shares in the last quarter. AQR Capital Management LLC raised its position in shares of First Business Financial Services by 104.5% in the 1st quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 4,924 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in First Business Financial Services by 5.2% in the 1st 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 in the last quarter. Geode Capital Management LLC boosted its stake in First Business Financial Services by 4.4% in the 2nd quarter. Geode Capital Management LLC now owns 185,361 shares of the financial services provider’s stock worth $9,392,000 after purchasing an additional 7,797 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new stake in First Business Financial Services during the 2nd quarter valued at about $232,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

First Business Financial Services Stock Down 1.0%

Shares of First Business Financial Services stock traded down $0.52 during trading on Friday, hitting $51.97. The company’s stock had a trading volume of 19,260 shares, compared to its average volume of 31,541. First Business Financial Services has a 52 week low of $42.18 and a 52 week high of $60.53. The company has a market capitalization of $433.43 million, a PE ratio of 8.73 and a beta of 0.75. The company has a fifty day simple moving average of $56.32 and a two-hundred day simple moving average of $53.68. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.03.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data 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 14.77%. The business had revenue of $42.22 million for the quarter, compared to analyst estimates of $43.10 million. Equities research analysts predict that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, February 28th. Investors of record on Saturday, February 14th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, February 13th. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s dividend payout ratio (DPR) is currently 22.86%.

Wall Street Analyst Weigh In

FBIZ has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. DA Davidson reissued 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. Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.