First Business Financial Services, Inc. (NASDAQ:FBIZ) Sees Significant Increase in Short Interest

First Business Financial Services, Inc. (NASDAQ:FBIZ) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 67,326 shares, a growth of 25.1% from the February 26th total of 53,801 shares. Based on an average daily trading volume, of 28,158 shares, the short-interest ratio is currently 2.4 days. Currently, 0.8% of the company’s shares are sold short.

First Business Financial Services Stock Up 2.7%

Shares of FBIZ stock traded up $1.48 during trading hours on Wednesday, hitting $55.41. 13,156 shares of the company were exchanged, compared to its average volume of 30,510. First Business Financial Services has a 52 week low of $42.18 and a 52 week high of $60.53. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average of $55.70 and a two-hundred day moving average of $53.76. The company has a market capitalization of $462.08 million, a PE ratio of 9.29 and a beta of 0.75.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. The firm had revenue of $42.22 million during the quarter, compared to analyst estimates of $43.10 million. First Business Financial Services had a net margin of 18.02% and a return on equity of 14.77%. Analysts anticipate that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th were given a dividend of $0.34 per share. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, February 13th. First Business Financial Services’s payout ratio is currently 22.86%.

Analyst Ratings Changes

Several analysts recently commented on the company. Keefe, Bruyette & Woods raised their price objective on First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. DA Davidson reaffirmed a “buy” rating and set a $68.00 price target on shares of First Business Financial Services in a research report on Monday, February 2nd. Finally, Piper Sandler reiterated 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. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $67.00.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in First Business Financial Services by 3.3% during the 1st 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 during the last quarter. AQR Capital Management LLC boosted its holdings in First Business Financial Services by 104.5% during the first 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 holdings in 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 last quarter. Geode Capital Management LLC grew its position in First Business Financial Services by 4.4% in the second quarter. Geode Capital Management LLC now owns 185,361 shares of the financial services provider’s stock valued at $9,392,000 after purchasing an additional 7,797 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in First Business Financial Services by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 171,490 shares of the financial services provider’s stock valued at $8,688,000 after buying an additional 25,260 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

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.