First Business Financial Services (NASDAQ:FBIZ) Reaches New 1-Year High – Should You Buy?

First Business Financial Services, Inc. (NASDAQ:FBIZ) reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $74.20 and last traded at $73.4190, with a volume of 2,543 shares traded. The stock had previously closed at $72.78.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FBIZ. Weiss Ratings raised shares of First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. DA Davidson set a $80.00 price target on First Business Financial Services and gave the company a “buy” rating in a research note on Monday, August 3rd. Raymond James Financial began coverage on First Business Financial Services in a report on Thursday, October 1st. They issued an “outperform” rating and a $75.00 price target for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, First Business Financial Services has an average rating of “Buy” and an average price target of $78.25.

First Business Financial Services Stock Up 1.7%

The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $70.75 and its 200 day moving average price is $62.14. The company has a market capitalization of $619.42 million, a P/E ratio of 11.28 and a beta of 0.67.

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

Insiders Place Their Bets

In other First Business Financial Services news, insider Jodi Chandler sold 675 shares of First Business Financial Services 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 sale, the insider directly owned 22,550 shares of the company’s stock, valued at approximately $1,582,784.50. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 institutional investors and hedge funds have recently added to or reduced their stakes in FBIZ. Inspire Investing LLC bought a new stake in shares of First Business Financial Services during the third quarter worth $644,000. Sequoia Financial Advisors LLC bought a new stake in shares of First Business Financial Services in the 2nd quarter valued at $255,000. Integrated Wealth Concepts LLC acquired a new stake in First Business Financial Services during the 2nd quarter worth $43,000. Squarepoint Ops LLC grew its position 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 purchasing an additional 13,681 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of First Business Financial Services in the second quarter valued at approximately $2,853,000. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.