First Business Financial Services (NASDAQ:FBIZ) Sets New 12-Month High – Time to Buy?

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) reached a new 52-week high on Tuesday . The stock traded as high as $61.40 and last traded at $61.06, with a volume of 24198 shares. The stock had previously closed at $60.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Raymond James Financial set a $64.00 price target on First Business Financial Services in a report on Monday, April 27th. DA Davidson reiterated a “buy” rating and issued a $65.00 price objective on shares of First Business Financial Services in a research report on Monday, April 27th. Finally, Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $65.50.

First Business Financial Services Trading Up 1.2%

The company has a market capitalization of $511.16 million, a P/E ratio of 10.07 and a beta of 0.68. The business has a fifty day moving average price of $57.55 and a 200 day moving average price of $56.36. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82.

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

First Business Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.2%. First Business Financial Services’s payout ratio is currently 22.41%.

Institutional Trading of First Business Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIZ. Daytona Street Capital LLC bought a new stake in shares of First Business Financial Services during the fourth quarter worth approximately $1,672,000. GSA Capital Partners LLP increased its position in shares of First Business Financial Services by 149.1% in the fourth quarter. GSA Capital Partners LLP now owns 30,210 shares of the financial services provider’s stock worth $1,640,000 after purchasing an additional 18,083 shares during the period. Wealth Enhancement Trust Services Inc. acquired a new position in shares of First Business Financial Services in the 4th quarter valued at approximately $462,000. LSV Asset Management raised its position in First Business Financial Services by 7.8% during the fourth quarter. LSV Asset Management now owns 134,127 shares of the financial services provider’s stock valued at $7,283,000 after purchasing an additional 9,738 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of First Business Financial Services during the 4th quarter worth $389,000. 60.07% of the stock is owned by institutional investors.

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.