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

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $47.18 and traded as high as $52.13. First Business Financial Services shares last traded at $50.60, with a volume of 28,892 shares trading hands.

Analyst Ratings Changes

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

First Business Financial Services Price Performance

The firm has a market cap of $420.03 million, a P/E ratio of 9.69 and a beta of 0.88. The business’s fifty day simple moving average is $49.41 and its 200-day simple moving average is $47.18. 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 quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. As a group, analysts forecast that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. First Business Financial Services’s dividend payout ratio is presently 22.22%.

Insider Activity at First Business Financial Services

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the firm’s stock in a transaction on 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 directly owns 7,718 shares of the company’s stock, valued at $421,016.90. This trade represents a 38.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in FBIZ. Creative Planning purchased a new position in First Business Financial Services during the third quarter worth about $216,000. GSA Capital Partners LLP boosted its position in shares of First Business Financial Services by 38.3% during the 3rd quarter. GSA Capital Partners LLP now owns 9,900 shares of the financial services provider’s stock valued at $451,000 after acquiring an additional 2,740 shares during the last quarter. First Business Financial Services Inc. grew its holdings in shares of First Business Financial Services by 3.4% during the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock worth $16,682,000 after purchasing an additional 12,194 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of First Business Financial Services in the third quarter worth approximately $1,657,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in First Business Financial Services in the third quarter valued at approximately $316,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

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.