First Business Financial Services (NASDAQ:FBIZ) Reaches New 52-Week High – Here’s Why

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) reached a new 52-week high on Friday . The company traded as high as $67.00 and last traded at $66.8350, with a volume of 8854 shares trading hands. The stock had previously closed at $66.02.

Analyst Upgrades and Downgrades

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

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.03. The company has a market capitalization of $563.64 million, a PE ratio of 11.10 and a beta of 0.66. The firm has a 50-day moving average of $60.79 and a 200 day moving average of $57.72.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. First Business Financial Services had a net margin of 18.16% and a return on equity of 14.60%. The firm had revenue of $44.29 million for the quarter, compared to the consensus estimate of $43.40 million. As a group, research analysts anticipate that First Business Financial Services, Inc. will post 6.21 earnings per share for the current fiscal year.

Institutional Trading of First Business Financial Services

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in First Business Financial Services by 3.3% during the first quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock valued at $645,000 after buying an additional 431 shares during the last quarter. AQR Capital Management LLC grew its position in shares of First Business Financial Services by 104.5% during the 1st quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 4,924 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of First Business Financial Services by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 234 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of First Business Financial Services in the 2nd quarter worth $147,000. Finally, Invesco Ltd. raised its holdings in First Business Financial Services by 0.7% in the 2nd quarter. Invesco Ltd. now owns 58,169 shares of the financial services provider’s stock worth $2,947,000 after purchasing an additional 400 shares during the period. Hedge funds and other 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.