First Business Financial Services (NASDAQ:FBIZ) Share Price Passes Above 200-Day Moving Average – Here’s Why

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.64 and traded as high as $57.25. First Business Financial Services shares last traded at $55.79, with a volume of 47,227 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FBIZ shares. Raymond James Financial set a $64.00 price target on First Business Financial Services in a research report on Monday, April 27th. DA Davidson reaffirmed a “buy” rating and issued a $65.00 price target on shares of First Business Financial Services in a research report on Monday, April 27th. Finally, Weiss Ratings cut First Business Financial Services from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating, According to 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 2.8%

The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The firm has a market cap of $466.40 million, a price-to-earnings ratio of 9.19 and a beta of 0.68. The firm has a 50-day moving average of $56.39 and a two-hundred day moving average of $55.64.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.02. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The business had revenue of $44.29 million during the quarter, compared to analysts’ expectations of $43.40 million. As a group, sell-side analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 6th. First Business Financial Services’s payout ratio is currently 22.41%.

Hedge Funds Weigh In On First Business Financial Services

Several large investors have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new position in shares of First Business Financial Services during the 1st quarter worth about $231,000. Bank of America Corp DE lifted its position in shares of First Business Financial Services by 36.2% during the 1st quarter. Bank of America Corp DE now owns 24,024 shares of the financial services provider’s stock worth $1,296,000 after purchasing an additional 6,379 shares during the last quarter. Empowered Funds LLC lifted its position in shares of First Business Financial Services by 9.5% during the 1st quarter. Empowered Funds LLC now owns 41,982 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 3,655 shares during the last quarter. Quantinno Capital Management LP raised its holdings in First Business Financial Services by 29.3% in the 1st quarter. Quantinno Capital Management LP now owns 13,359 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 3,030 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in First Business Financial Services by 34.6% in the 1st quarter. Lazard Asset Management LLC now owns 16,773 shares of the financial services provider’s stock valued at $905,000 after acquiring an additional 4,312 shares in the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

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.