First Business Financial Services (NASDAQ:FBIZ) Hits New 52-Week High – Here’s What Happened

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $61.30 and last traded at $59.36, with a volume of 30189 shares changing hands. The stock had previously closed at $60.62.

Wall Street Analysts Forecast Growth

FBIZ has been the subject of several research analyst reports. DA Davidson reiterated a “buy” rating and set a $65.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Raymond James Financial set a $64.00 target price on First Business Financial Services in a research note 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 note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $65.50.

First Business Financial Services Price Performance

The company has a 50 day moving average of $57.24 and a 200-day moving average of $56.10. The stock has a market capitalization of $496.25 million, a P/E ratio of 9.78 and a beta of 0.68. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share (EPS) 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 firm had revenue of $44.29 million for the quarter, compared to analysts’ expectations of $43.40 million. Sell-side analysts predict that First Business Financial Services, Inc. will post 6.21 EPS for the current year.

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, May 6th. This represents a $1.36 annualized dividend and a yield of 2.3%. First Business Financial Services’s dividend payout ratio (DPR) is 22.41%.

Hedge Funds Weigh In On First Business Financial Services

Several large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in First Business Financial Services in the third quarter worth $33,000. State of Alaska Department of Revenue increased its position in First Business Financial Services by 174.2% in the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock worth $48,000 after buying an additional 575 shares during the period. EverSource Wealth Advisors LLC increased its position in First Business Financial Services by 32,175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock worth $65,000 after buying an additional 1,287 shares during the period. Tower Research Capital LLC TRC increased its position in First Business Financial Services by 356.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after buying an additional 1,476 shares during the period. Finally, Virtus Advisers LLC acquired a new stake in First Business Financial Services in the third quarter worth $109,000. 60.07% of the stock is currently owned by institutional investors.

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.