First Business Financial Services (NASDAQ:FBIZ) Sees Large Volume Increase – Still a Buy?

First Business Financial Services, Inc. (NASDAQ:FBIZ) shares saw an uptick in trading volume on Friday. Approximately 45,062 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 46,594 shares. The stock last traded at $70.0250 and had previously closed at $70.61.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FBIZ. Piper Sandler reissued an “overweight” rating and set a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Raymond James Financial began coverage on shares of First Business Financial Services in a research note on Thursday, October 1st. They set an “outperform” rating and a $75.00 price target on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. DA Davidson set a $80.00 price objective on shares of First Business Financial Services and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of First Business Financial Services in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $78.25.

First Business Financial Services Price Performance

The business’s 50 day moving average is $70.86 and its 200-day moving average is $63.39. The firm has a market capitalization of $582.22 million, a P/E ratio of 10.60 and a beta of 0.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. The company had revenue of $46.71 million for the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. As a group, sell-side analysts predict that First Business Financial Services, Inc. will post 6.59 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a $0.34 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $1.36 dividend on an annualized basis and a yield of 2.0%. First Business Financial Services’s dividend payout ratio is 20.73%.

Insiders Place Their Bets

In related news, insider Jodi Chandler sold 675 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total transaction of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares in the company, valued at approximately $1,582,784.50. The trade was a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

A number of large investors have recently bought and sold shares of FBIZ. Sequoia Financial Advisors LLC purchased a new position in First Business Financial Services during the second quarter worth approximately $255,000. Integrated Wealth Concepts LLC acquired a new stake in First Business Financial Services in the second quarter valued at about $43,000. Squarepoint Ops LLC lifted its holdings in shares of First Business Financial Services by 95.1% in the 2nd quarter. Squarepoint Ops LLC now owns 28,061 shares of the financial services provider’s stock valued at $1,773,000 after buying an additional 13,681 shares during the period. Empowered Funds LLC acquired a new position in shares of First Business Financial Services during the 2nd quarter worth $2,853,000. Finally, Bank of America Corp DE purchased a new position in First Business Financial Services in the 2nd quarter valued at approximately $1,515,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc is a bank holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, First Business Bank, the company provides commercial banking services primarily to small and middle-market businesses, business owners, professionals and individuals.

First Business Bank offers business checking and savings accounts, treasury management, commercial real estate lending, business loans, lines of credit, equipment financing and other lending solutions.