First Business Financial Services (NASDAQ:FBIZ) Sets New 12-Month High – Should You Buy?

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) hit a new 52-week high on Thursday . The stock traded as high as $65.98 and last traded at $65.8550, with a volume of 9183 shares traded. The stock had previously closed at $64.06.

Wall Street Analysts Forecast Growth

FBIZ has been the topic of several recent analyst reports. Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Raymond James Financial set a $64.00 price target on First Business Financial Services in a report on Monday, April 27th. Finally, DA Davidson restated a “buy” rating and set a $65.00 price target on shares of First Business Financial Services in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $65.50.

First Business Financial Services Trading Down 1.2%

The stock’s fifty day simple moving average is $59.90 and its 200-day simple moving average is $57.38. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.03. The firm has a market cap of $549.38 million, a PE ratio of 10.82 and a beta of 0.66.

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 (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.02. The firm had revenue of $44.29 million for the quarter, compared to the consensus estimate of $43.40 million. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%. On average, sell-side analysts forecast that First Business Financial Services, Inc. will post 6.21 earnings per share for the current year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Wednesday, May 6th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, May 6th. First Business Financial Services’s payout ratio is presently 22.41%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in First Business Financial Services in the third quarter valued at approximately $33,000. State of Alaska Department of Revenue raised its position in First Business Financial Services by 174.2% during the 4th 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 last quarter. EverSource Wealth Advisors LLC lifted its stake in First Business Financial Services by 32,175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 1,287 shares during the period. Tower Research Capital LLC TRC lifted its stake in First Business Financial Services by 356.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 1,476 shares during the period. Finally, Virtus Advisers LLC purchased a new stake in shares of First Business Financial Services in the 3rd quarter valued at $109,000. 60.07% of the stock is currently owned by hedge funds and other 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.