First Business Financial Services (NASDAQ:FBIZ) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $54.16 and traded as high as $59.00. First Business Financial Services shares last traded at $58.37, with a volume of 47,814 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on FBIZ. Keefe, Bruyette & Woods boosted their price objective on First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Piper Sandler reissued an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Finally, DA Davidson reiterated a “buy” rating and issued a $68.00 target price on shares of First Business Financial Services in a research note on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $67.00.

First Business Financial Services Stock Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.03. The firm’s 50 day moving average is $55.53 and its 200-day moving average is $54.24. The stock has a market capitalization of $494.81 million, a price-to-earnings ratio of 9.97 and a beta of 0.72.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. The company had revenue of $42.22 million during the quarter, compared to analysts’ expectations of $43.10 million. First Business Financial Services had a return on equity of 14.77% and a net margin of 18.02%. Analysts forecast that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, February 28th. Investors of record on Saturday, February 14th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, February 13th. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s payout ratio is currently 22.86%.

Hedge Funds Weigh In On First Business Financial Services

A number of large investors have recently bought and sold shares of FBIZ. Versant Capital Management Inc raised its position in First Business Financial Services by 163.2% during the third quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 364 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in First Business Financial Services during the third quarter worth $33,000. State of Alaska Department of Revenue raised its position in First Business Financial Services by 174.2% during the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 575 shares during the period. EverSource Wealth Advisors LLC raised its position in First Business Financial Services by 32,175.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,287 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in First Business Financial Services by 356.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,476 shares during the period. Institutional investors and hedge funds 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.