First Business Financial Services, Inc. (NASDAQ:FBIZ) Sees Large Decline in Short Interest

First Business Financial Services, Inc. (NASDAQ:FBIZ) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 60,763 shares, a decline of 14.8% from the March 31st total of 71,348 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 56,023 shares, the short-interest ratio is presently 1.1 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on FBIZ shares. Weiss Ratings restated a “buy (b)” rating on shares of First Business Financial Services in a report on Tuesday, April 21st. DA Davidson restated a “buy” rating and set a $65.00 price target on shares of First Business Financial Services in a report on Monday. Raymond James Financial set a $64.00 price target on First Business Financial Services in a report on Monday. 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. Finally, Keefe, Bruyette & Woods boosted their price target on First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $65.50.

First Business Financial Services Trading Up 0.6%

FBIZ stock traded up $0.36 during trading on Friday, hitting $56.56. The company had a trading volume of 31,995 shares, compared to its average volume of 36,667. The business has a 50-day moving average of $55.30 and a 200-day moving average of $54.68. First Business Financial Services has a one year low of $45.90 and a one year high of $60.53. The stock has a market cap of $472.84 million, a PE ratio of 9.32 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.42 by $0.02. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The business had revenue of $44.29 million for the quarter, compared to analysts’ expectations of $43.40 million. Research analysts predict that First Business Financial Services will post 6.19 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, May 6th. This represents a $1.36 annualized dividend and a yield of 2.4%. First Business Financial Services’s dividend payout ratio is presently 22.41%.

Institutional Trading of First Business Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in First Business Financial Services by 5.2% in 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 buying an additional 234 shares during the period. Franklin Resources Inc. lifted its stake in First Business Financial Services by 1.1% in the third quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 239 shares during the period. Uncommon Cents Investing LLC lifted its stake in First Business Financial Services by 0.8% in the fourth quarter. Uncommon Cents Investing LLC now owns 34,743 shares of the financial services provider’s stock valued at $1,887,000 after buying an additional 265 shares during the period. Stifel Financial Corp lifted its stake in First Business Financial Services by 1.2% in the fourth quarter. Stifel Financial Corp now owns 23,035 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 272 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in First Business Financial Services by 2.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,635 shares of the financial services provider’s stock valued at $798,000 after buying an additional 298 shares during the period. 60.07% of the stock is currently owned by institutional investors.

First Business Financial Services Company Profile

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.