Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Declines By 17.6%

First Business Financial Services, Inc. (NASDAQ:FBIZ) saw a large drop in short interest in December. As of December 31st, there was short interest totaling 62,409 shares, a drop of 17.6% from the December 15th total of 75,758 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 25,449 shares, the days-to-cover ratio is currently 2.5 days. Based on an average trading volume of 25,449 shares, the days-to-cover ratio is currently 2.5 days. Approximately 0.8% of the shares of the company are short sold.

First Business Financial Services Stock Performance

Shares of FBIZ opened at $56.42 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03. First Business Financial Services has a 1 year low of $42.18 and a 1 year high of $58.41. The firm has a fifty day moving average of $54.29 and a 200-day moving average of $52.06. The company has a market cap of $469.41 million, a price-to-earnings ratio of 9.28 and a beta of 0.75.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.31. First Business Financial Services had a net margin of 18.55% and a return on equity of 14.89%. The firm had revenue of $44.29 million during the quarter, compared to analyst estimates of $42.30 million. As a group, equities analysts anticipate that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, November 19th. First Business Financial Services’s dividend payout ratio (DPR) is currently 19.08%.

Institutional Investors Weigh In On First Business Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBIZ. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Business Financial Services by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 234 shares during the period. Franklin Resources Inc. increased its holdings in shares of First Business Financial Services by 1.1% in the third quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 239 shares in the last quarter. Uncommon Cents Investing LLC boosted its position in shares of First Business Financial Services by 0.7% in the 3rd quarter. Uncommon Cents Investing LLC now owns 34,478 shares of the financial services provider’s stock valued at $1,767,000 after purchasing an additional 255 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of First Business Financial Services by 2.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,635 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 298 shares during the period. Finally, First Trust Advisors LP increased its stake in First Business Financial Services by 6.6% in the 2nd quarter. First Trust Advisors LP now owns 5,309 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 327 shares in the last quarter. Institutional investors own 60.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of First Business Financial Services from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Business Financial Services in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $60.67.

First Business Financial Services Company Profile

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.