First Business Financial Services (NASDAQ:FBIZ) Reaches New 1-Year High – Here’s Why

First Business Financial Services, Inc. (NASDAQ:FBIZ) shares hit a new 52-week high during trading on Monday . The company traded as high as $63.88 and last traded at $62.8020, with a volume of 223850 shares traded. The stock had previously closed at $63.81.

Wall Street Analyst Weigh In

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

First Business Financial Services Stock Down 0.1%

The firm has a market cap of $528.10 million, a price-to-earnings ratio of 10.41 and a beta of 0.68. The stock’s 50 day moving average is $58.06 and its 200 day moving average is $56.71. 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 released its earnings results on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $43.40 million. Analysts forecast that First Business Financial Services, Inc. will post 6.21 EPS for the current year.

First Business Financial Services Dividend Announcement

The company also recently announced 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 of this dividend was Wednesday, May 6th. This represents a $1.36 annualized dividend and a yield of 2.2%. First Business Financial Services’s dividend payout ratio (DPR) is currently 22.41%.

Institutional Investors Weigh In On First Business Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in First Business Financial Services by 3.3% in the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 431 shares during the last quarter. AQR Capital Management LLC grew its stake 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. raised its holdings in shares of 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. Quantbot Technologies LP bought a new stake in shares of First Business Financial Services in the 2nd quarter worth approximately $147,000. Finally, Invesco Ltd. lifted its stake in First Business Financial Services by 0.7% during the second quarter. Invesco Ltd. now owns 58,169 shares of the financial services provider’s stock valued at $2,947,000 after purchasing an additional 400 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors.

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.