First Business Financial Services (NASDAQ:FBIZ) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $53.86 and traded as high as $56.48. First Business Financial Services shares last traded at $55.96, with a volume of 81,997 shares.

Analyst Ratings Changes

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

First Business Financial Services Stock Up 1.4%

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 company has a market capitalization of $466.71 million, a price-to-earnings ratio of 9.41 and a beta of 0.72. The firm’s 50-day simple moving average is $55.50 and its 200-day simple moving average is $53.86.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly 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. The company had revenue of $42.22 million for the quarter, compared to analyst estimates of $43.10 million. First Business Financial Services had a net margin of 18.02% and a return on equity of 14.77%. Sell-side analysts forecast that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th were given a dividend of $0.34 per share. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 2.4%. First Business Financial Services’s dividend payout ratio (DPR) is presently 22.86%.

Institutional Trading of First Business Financial Services

Several institutional investors have recently made changes to their positions in FBIZ. LSV Asset Management lifted its holdings in First Business Financial Services by 44.6% during the 3rd quarter. LSV Asset Management now owns 124,389 shares of the financial services provider’s stock valued at $6,376,000 after purchasing an additional 38,364 shares during the last quarter. Federated Hermes Inc. lifted its holdings in First Business Financial Services by 45.8% during the 4th quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock valued at $5,689,000 after purchasing an additional 32,899 shares during the last quarter. Daytona Street Capital LLC bought a new position in First Business Financial Services during the 4th quarter valued at about $1,672,000. Vanguard Group Inc. lifted its holdings in First Business Financial Services by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock valued at $24,691,000 after purchasing an additional 30,499 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in First Business Financial Services by 469.9% during the 3rd quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider’s stock valued at $1,551,000 after purchasing an additional 24,949 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.