First Business Financial Services (NASDAQ:FBIZ) Sees Unusually-High Trading Volume – What’s Next?

First Business Financial Services, Inc. (NASDAQ:FBIZ) shares saw an uptick in trading volume on Tuesday. 35,429 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 47,618 shares. The stock last traded at $71.3650 and had previously closed at $70.52.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FBIZ shares. DA Davidson set a $80.00 price objective on First Business Financial Services and gave the company a “buy” rating in a report on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Raymond James Financial initiated coverage on First Business Financial Services in a report on Thursday, October 1st. They set an “outperform” rating and a $75.00 price target for the company. Finally, Weiss Ratings upgraded shares of First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $78.25.

First Business Financial Services Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90. The firm has a market cap of $597.83 million, a price-to-earnings ratio of 10.89 and a beta of 0.67. The stock has a fifty day moving average price of $70.65 and a 200-day moving average price of $64.19.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.28. The company had revenue of $46.71 million during the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. On average, analysts expect that First Business Financial Services, Inc. will post 6.59 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 12th. First Business Financial Services’s dividend payout ratio is currently 20.73%.

Insider Buying and Selling

In other First Business Financial Services news, insider Jodi Chandler sold 675 shares of First Business Financial Services stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the sale, the insider owned 22,550 shares of the company’s stock, valued at approximately $1,582,784.50. The trade was a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Business Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new stake in shares of First Business Financial Services in the 2nd quarter valued at approximately $43,000. Legal & General Group Plc purchased a new position in First Business Financial Services in the second quarter worth $51,000. Algert Global LLC purchased a new position in First Business Financial Services in the second quarter worth $226,000. Jones Financial Companies Lllp acquired a new stake in First Business Financial Services in the second quarter valued at $234,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in First Business Financial Services in the second quarter valued at $255,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc is a bank holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, First Business Bank, the company provides commercial banking services primarily to small and middle-market businesses, business owners, professionals and individuals.

First Business Bank offers business checking and savings accounts, treasury management, commercial real estate lending, business loans, lines of credit, equipment financing and other lending solutions.