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

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $67.00 and last traded at $66.8350, with a volume of 8854 shares changing hands. The stock had previously closed at $66.02.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. DA Davidson reissued a “buy” rating and issued a $65.00 target price on shares of First Business Financial Services in a report on Monday, April 27th. Finally, Raymond James Financial set a $64.00 price target on First Business Financial Services in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $65.50.

First Business Financial Services Price Performance

The company’s 50 day moving average is $61.05 and its 200 day moving average is $57.79. 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 stock has a market capitalization of $561.62 million, a price-to-earnings ratio of 11.07 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. First Business Financial Services had a net margin of 18.16% and a return on equity of 14.60%. The firm had revenue of $44.29 million during the quarter, compared to analysts’ expectations of $43.40 million. Research analysts anticipate that First Business Financial Services, Inc. will post 6.21 EPS for the current fiscal year.

Institutional Trading of First Business Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of First Business Financial Services by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock valued at $24,691,000 after purchasing an additional 30,499 shares during the period. Geode Capital Management LLC increased its position in First Business Financial Services by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 235,050 shares of the financial services provider’s stock worth $12,765,000 after buying an additional 6,347 shares during the period. LSV Asset Management increased its position in First Business Financial Services by 7.8% during the fourth quarter. LSV Asset Management now owns 134,127 shares of the financial services provider’s stock worth $7,283,000 after buying an additional 9,738 shares during the period. AQR Capital Management LLC lifted its stake in First Business Financial Services by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 105,951 shares of the financial services provider’s stock valued at $5,753,000 after buying an additional 22,334 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of First Business Financial Services by 45.8% in the fourth quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock valued at $5,689,000 after acquiring an additional 32,899 shares during the period. 60.07% of the stock is owned by hedge funds and other 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.