First Business Financial Services (NASDAQ:FBIZ) Shares Cross Above 200-Day Moving Average of $30.38

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.38 and traded as high as $31.04. First Business Financial Services shares last traded at $30.56, with a volume of 33,185 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com assumed coverage on First Business Financial Services in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Piper Sandler assumed coverage on First Business Financial Services in a research report on Thursday, August 17th. They set an “overweight” rating and a $37.00 target price on the stock. Finally, Raymond James lifted their target price on First Business Financial Services from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, July 31st.

First Business Financial Services Stock Performance

The company has a market cap of $254.26 million, a PE ratio of 6.85 and a beta of 0.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $32.12 and a 200-day moving average of $30.38.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.02). The business had revenue of $35.12 million for the quarter, compared to the consensus estimate of $34.35 million. First Business Financial Services had a return on equity of 15.24% and a net margin of 20.13%. As a group, analysts anticipate that First Business Financial Services, Inc. will post 4.29 earnings per share for the current year.

First Business Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 7th were issued a dividend of $0.2275 per share. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.22. This represents a $0.91 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, August 4th. First Business Financial Services’s dividend payout ratio (DPR) is 20.40%.

Insider Buying and Selling

In related news, insider Jodi A. Chandler sold 6,604 shares of First Business Financial Services stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $31.83, for a total transaction of $210,205.32. Following the sale, the insider now directly owns 19,450 shares in the company, valued at $619,093.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIZ. Dorsey Wright & Associates purchased a new position in shares of First Business Financial Services in the fourth quarter worth about $29,000. UBS Group AG purchased a new stake in shares of First Business Financial Services during the first quarter worth $37,000. BNP Paribas Arbitrage SA boosted its holdings in shares of First Business Financial Services by 2,496.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,129 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 2,047 shares during the period. Citigroup Inc. boosted its holdings in shares of First Business Financial Services by 6,011.6% in the second quarter. Citigroup Inc. now owns 2,628 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 2,585 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of First Business Financial Services by 99.3% in the second quarter. Wells Fargo & Company MN now owns 2,990 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 1,490 shares during the period. 63.63% of the stock is currently owned by institutional investors.

First Business Financial Services Company Profile

First Business Financial Services, Inc operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals. It offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.