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

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FBIZ. Raymond James Financial set a $64.00 target price on First Business Financial Services in a research report on Monday, April 27th. Weiss Ratings upgraded First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Finally, DA Davidson reissued a “buy” rating and set a $65.00 price objective on shares of First Business Financial Services in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $65.50.

First Business Financial Services Stock Performance

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 company has a market cap of $511.16 million, a price-to-earnings ratio of 10.07 and a beta of 0.68. The stock has a 50 day moving average price of $57.55 and a two-hundred day moving average price of $56.36.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The business had revenue of $44.29 million during the quarter, compared to analysts’ expectations of $43.40 million. Analysts predict that First Business Financial Services, Inc. will post 6.21 EPS for the current year.

First Business Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Wednesday, May 6th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.2%. First Business Financial Services’s dividend payout ratio is 22.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in First Business Financial Services in the third quarter valued at approximately $33,000. State of Alaska Department of Revenue grew its holdings in shares of First Business Financial Services by 174.2% in the 4th quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock valued at $48,000 after buying an additional 575 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of First Business Financial Services by 32,175.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after buying an additional 1,287 shares during the period. Tower Research Capital LLC TRC increased its position in shares of First Business Financial Services by 356.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after buying an additional 1,476 shares in the last quarter. Finally, Virtus Advisers LLC bought a new stake in shares of First Business Financial Services in the 3rd quarter valued at $109,000. Institutional investors own 60.07% of the company’s stock.

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.