First Business Financial Services (NASDAQ:FBIZ) Share Price Crosses Above 200 Day Moving Average – Here’s Why

First Business Financial Services, Inc. (NASDAQ:FBIZ) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $46.64 and traded as high as $52.59. First Business Financial Services shares last traded at $51.71, with a volume of 29,093 shares changing hands.

Analyst Ratings Changes

A number of analysts have weighed in on FBIZ shares. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their target price on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler raised their price target on shares of First Business Financial Services from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Raymond James upped their price objective on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, First Business Financial Services presently has an average rating of “Buy” and an average price target of $58.75.

First Business Financial Services Stock Down 0.7 %

The company has a market capitalization of $428.93 million, a PE ratio of 9.91 and a beta of 0.88. The stock’s fifty day moving average is $48.66 and its two-hundred day moving average is $46.64. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. As a group, analysts predict that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.24%. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. First Business Financial Services’s dividend payout ratio is 22.22%.

Insider Buying and Selling at First Business Financial Services

In other news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the transaction, the insider now owns 7,718 shares in the company, valued at $421,016.90. This trade represents a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

A number of large investors have recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in First Business Financial Services during the 4th quarter worth about $49,000. Public Employees Retirement System of Ohio bought a new stake in shares of First Business Financial Services during the fourth quarter valued at about $81,000. Virtus Investment Advisers Inc. purchased a new stake in shares of First Business Financial Services in the fourth quarter worth about $95,000. BNP Paribas Financial Markets boosted its position in shares of First Business Financial Services by 28.9% in the fourth quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 490 shares during the period. Finally, SG Americas Securities LLC grew its stake in First Business Financial Services by 24.8% during the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 679 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

About First Business Financial Services

First Business Financial Services, Inc operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals in Wisconsin, Kansas, and Missouri.