First Business Financial Services (NASDAQ:FBIZ) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

First Business Financial Services, Inc. (NASDAQ:FBIZGet Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.64 and traded as high as $57.25. First Business Financial Services shares last traded at $55.79, with a volume of 47,227 shares.

Analyst Upgrades and Downgrades

FBIZ has been the subject of several research reports. Weiss Ratings cut shares of First Business Financial Services from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. DA Davidson reaffirmed a “buy” rating and set a $65.00 price target on shares of First Business Financial Services in a research note on Monday, April 27th. Finally, Raymond James Financial set a $64.00 price target on shares of First Business Financial Services in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $65.50.

Check Out Our Latest Stock Analysis on FBIZ

First Business Financial Services Stock Up 0.7%

The company has a market capitalization of $485.97 million, a P/E ratio of 9.58 and a beta of 0.68. The firm’s 50 day moving average price is $56.57 and its two-hundred day moving average price is $55.69. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82.

First Business Financial Services (NASDAQ:FBIZGet Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.02. First Business Financial Services had a net margin of 18.16% and a return on equity of 14.60%. The business had revenue of $44.29 million during the quarter, compared to analysts’ expectations of $43.40 million. Equities research analysts forecast that First Business Financial Services, Inc. will post 6.21 EPS for the current year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were paid a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.3%. First Business Financial Services’s dividend payout ratio (DPR) is currently 22.41%.

Hedge Funds Weigh In On First Business Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of First Business Financial Services in the first quarter valued at $231,000. Bank of America Corp DE boosted its position in First Business Financial Services by 36.2% during the first quarter. Bank of America Corp DE now owns 24,024 shares of the financial services provider’s stock worth $1,296,000 after purchasing an additional 6,379 shares during the period. Empowered Funds LLC boosted its position in First Business Financial Services by 9.5% during the first quarter. Empowered Funds LLC now owns 41,982 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 3,655 shares during the period. Quantinno Capital Management LP boosted its position in First Business Financial Services by 29.3% during the first quarter. Quantinno Capital Management LP now owns 13,359 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 3,030 shares during the period. Finally, Lazard Asset Management LLC boosted its position in First Business Financial Services by 34.6% during the first quarter. Lazard Asset Management LLC now owns 16,773 shares of the financial services provider’s stock worth $905,000 after purchasing an additional 4,312 shares during the period. 60.07% of the stock is owned by institutional investors.

First Business Financial Services Company Profile

(Get Free Report)

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.

Further Reading