First Business Financial Services (NASDAQ:FBIZ) Reaches New 12-Month High – Still a Buy?

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s share price reached a new 52-week high on Monday . The stock traded as high as $65.49 and last traded at $64.1450, with a volume of 45395 shares. The stock had previously closed at $63.85.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FBIZ. DA Davidson restated a “buy” rating and set a $65.00 price objective on shares of First Business Financial Services in a report on Monday, April 27th. Raymond James Financial set a $64.00 price target on shares of First Business Financial Services in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, 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 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 $529.52 million, a P/E ratio of 10.43 and a beta of 0.66. The company has a fifty day moving average price of $58.73 and a two-hundred day moving average price of $56.94.

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

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were given 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 dividend yield of 2.1%. First Business Financial Services’s dividend payout ratio is currently 22.41%.

Institutional Investors Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its holdings in First Business Financial Services by 149.1% during the 4th quarter. GSA Capital Partners LLP now owns 30,210 shares of the financial services provider’s stock worth $1,640,000 after purchasing an additional 18,083 shares in the last quarter. Daytona Street Capital LLC bought a new stake in shares of First Business Financial Services in the fourth quarter valued at about $1,672,000. Wealth Enhancement Trust Services Inc. bought a new stake in shares of First Business Financial Services in the fourth quarter valued at about $462,000. LSV Asset Management boosted its position in shares of 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. Finally, Uncommon Cents Investing LLC boosted its position in shares of First Business Financial Services by 0.8% during the fourth quarter. Uncommon Cents Investing LLC now owns 34,743 shares of the financial services provider’s stock worth $1,887,000 after buying an additional 265 shares during the period. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.