Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Increases By 21.3%

First Business Financial Services, Inc. (NASDAQ:FBIZ) saw a significant increase in short interest in February. As of February 13th, there was short interest totaling 70,157 shares, an increase of 21.3% from the January 29th total of 57,853 shares. Based on an average daily trading volume, of 27,864 shares, the short-interest ratio is currently 2.5 days. Approximately 0.9% of the company’s shares are sold short. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 27,864 shares, the short-interest ratio is currently 2.5 days.

First Business Financial Services Trading Down 1.5%

NASDAQ FBIZ opened at $54.00 on Friday. First Business Financial Services has a 12 month low of $42.18 and a 12 month high of $60.53. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $56.55 and its 200-day moving average price is $53.57. The stock has a market cap of $450.36 million, a P/E ratio of 9.08 and a beta of 0.75.

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

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 28th. Shareholders of record on Saturday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, February 13th. This represents a $1.36 annualized dividend and a yield of 2.5%. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s dividend payout ratio (DPR) is 22.86%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors have recently modified their holdings of FBIZ. Royal Bank of Canada lifted its stake in First Business Financial Services by 3.3% during the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 431 shares during the period. AQR Capital Management LLC raised its holdings in shares of First Business Financial Services by 104.5% during the first quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 4,924 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Business Financial Services by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 234 shares during the period. Los Angeles Capital Management LLC boosted its holdings in First Business Financial Services by 133.1% in the second quarter. Los Angeles Capital Management LLC now owns 13,957 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 7,970 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in First Business Financial Services by 4.4% in the 2nd quarter. Geode Capital Management LLC now owns 185,361 shares of the financial services provider’s stock worth $9,392,000 after purchasing an additional 7,797 shares during the period. 60.07% of the stock is owned by hedge funds and other institutional investors.

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.