First Business Financial Services (NASDAQ:FBIZ) Reaches New 52-Week High – Here’s Why

First Business Financial Services, Inc. (NASDAQ:FBIZ) shares hit a new 52-week high during trading on Friday . The company traded as high as $67.00 and last traded at $66.8350, with a volume of 8854 shares traded. The stock had previously closed at $66.02.

Analysts Set New Price Targets

FBIZ has been the subject of a number of recent research reports. Raymond James Financial set a $64.00 price objective on First Business Financial Services in a research note on Monday, April 27th. DA Davidson restated a “buy” rating and set a $65.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and a consensus price target of $65.50.

First Business Financial Services Trading Up 2.1%

The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $60.79 and a 200 day simple moving average of $57.72. The firm has a market capitalization of $563.64 million, a P/E ratio of 11.10 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.02. The firm had revenue of $44.29 million during the quarter, compared to analyst estimates of $43.40 million. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%. As a group, research analysts forecast that First Business Financial Services, Inc. will post 6.21 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FBIZ. Northwestern Mutual Wealth Management Co. purchased a new stake in First Business Financial Services during the 3rd quarter valued at approximately $33,000. State of Alaska Department of Revenue grew its stake in First Business Financial Services by 174.2% during the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in First Business Financial Services by 32,175.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 1,287 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in First Business Financial Services by 356.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 1,476 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new stake in First Business Financial Services in the 3rd quarter worth $109,000. 60.07% of the stock is owned by hedge funds and other 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.