First Business Financial Services (NASDAQ:FBIZ) Hits New 1-Year High – What’s Next?

First Business Financial Services, Inc. (NASDAQ:FBIZ) shares reached a new 52-week high on Tuesday . The stock traded as high as $61.40 and last traded at $61.06, with a volume of 24198 shares traded. The stock had previously closed at $60.40.

Analyst Upgrades and Downgrades

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

First Business Financial Services Trading Up 0.7%

The business has a 50 day moving average of $57.69 and a 200-day moving average of $56.47. 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 capitalization of $522.00 million, a P/E ratio of 10.29 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, topping 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 net margin of 18.16% and a return on equity of 14.60%. Analysts anticipate that First Business Financial Services, Inc. will post 6.21 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, May 6th. First Business Financial Services’s dividend payout ratio (DPR) is presently 22.41%.

Hedge Funds Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBIZ. Royal Bank of Canada raised its stake in shares of First Business Financial Services by 3.3% in the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 431 shares during the period. AQR Capital Management LLC boosted its position in shares of First Business Financial Services by 104.5% during the first quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider’s stock worth $454,000 after buying an additional 4,924 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of First Business Financial Services by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after buying an additional 234 shares during the period. Quantbot Technologies LP bought a new position in shares of First Business Financial Services during the second quarter worth about $147,000. Finally, Invesco Ltd. grew its holdings in shares of First Business Financial Services by 0.7% during the second quarter. Invesco Ltd. now owns 58,169 shares of the financial services provider’s stock worth $2,947,000 after buying an additional 400 shares in the last quarter. 60.07% of the stock is 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.