First Business Financial Services (NASDAQ:FBIZ) Stock Price Passes Above 200 Day Moving Average of $37.18

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $37.18 and traded as high as $42.84. First Business Financial Services shares last traded at $42.60, with a volume of 7,371 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FBIZ shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $51.00 price objective (up from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $50.00 in a research report on Monday, August 5th. StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler upped their price objective on First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and an average target price of $50.75.

First Business Financial Services Price Performance

The stock has a market capitalization of $358.46 million, a price-to-earnings ratio of 9.96 and a beta of 0.82. The company has a 50 day moving average of $42.24 and a 200 day moving average of $37.24. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.12.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The firm had revenue of $65.34 million during the quarter, compared to analyst estimates of $36.73 million. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. As a group, equities research analysts forecast that First Business Financial Services, Inc. will post 4.71 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 2.31%. First Business Financial Services’s dividend payout ratio is presently 23.04%.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIZ. Lazard Asset Management LLC acquired a new stake in First Business Financial Services during the first quarter worth about $60,000. BNP Paribas Financial Markets increased its stake in First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 1,659 shares during the last quarter. New York State Common Retirement Fund increased its stake in First Business Financial Services by 70.7% during the fourth quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 1,601 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in First Business Financial Services during the second quarter worth about $204,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of First Business Financial Services in the first quarter valued at about $247,000. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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 in Wisconsin, Kansas, and Missouri.