First Business Financial Services (NASDAQ:FBIZ) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened
by Tristan Rich · The Markets DailyFirst Business Financial Services, Inc. (NASDAQ:FBIZ – Get 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:FBIZ – Get 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
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.