First Business Financial Services (NASDAQ:FBIZ) Sets New 1-Year High – Time to Buy?

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) reached a new 52-week high during trading on Wednesday. The stock traded as high as $79.53 and last traded at $78.14, with a volume of 18,105 shares changing hands. The stock had previously closed at $76.68.

Wall Street Analyst Weigh In

FBIZ has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. DA Davidson increased their target price on First Business Financial Services from $80.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler raised their price target on First Business Financial Services from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings cut First Business Financial Services from a “buy (a+)” rating to a “buy (a)” rating in a report on Monday. Finally, Raymond James Financial restated an “outperform” rating and issued a $83.00 price objective on shares of First Business Financial Services in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $82.50.

First Business Financial Services Price Performance

The company has a fifty day simple moving average of $71.30 and a two-hundred day simple moving average of $62.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 1.02. The company has a market capitalization of $648.41 million, a price-to-earnings ratio of 11.45 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.28. First Business Financial Services had a return on equity of 15.04% and a net margin of 19.93%. The company had revenue of $47.51 million for the quarter, compared to analyst estimates of $46.88 million. As a group, research analysts anticipate that First Business Financial Services, Inc. will post 6.83 earnings per share for the current year.

First Business Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, November 12th. First Business Financial Services’s dividend payout ratio is presently 19.97%.

Insiders Place Their Bets

In related news, insider Jodi Chandler sold 675 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $70.19, for a total transaction of $47,378.25. Following the transaction, the insider directly owned 22,550 shares in the company, valued at approximately $1,582,784.50. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.00% of the company’s stock.

Institutional Trading of First Business Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of First Business Financial Services during the 2nd quarter worth about $58,646,000. The Manufacturers Life Insurance Company acquired a new stake in shares of First Business Financial Services in the second quarter worth approximately $15,351,000. De Lisle Partners LLP acquired a new stake in shares of First Business Financial Services in the second quarter worth approximately $6,258,000. Vista Investment Management acquired a new stake in shares of First Business Financial Services in the second quarter worth approximately $3,307,000. Finally, Empowered Funds LLC purchased a new stake in First Business Financial Services in the second quarter valued at approximately $2,853,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.