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

First Business Financial Services, Inc. (NASDAQ:FBIZ)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

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

First Business Financial Services Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average price of $49.41 and a 200 day moving average price of $47.18. The stock has a market cap of $420.03 million, a PE ratio of 9.69 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 EPS for the quarter, topping 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%. Analysts expect that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

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

Insider Buying and Selling at First Business Financial Services

In other news, insider Daniel Ovokaitys sold 4,828 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction 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 approximately $421,016.90. This represents a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. purchased a new position in shares of First Business Financial Services during the fourth quarter valued at approximately $3,917,000. Hillsdale Investment Management Inc. boosted its holdings in First Business Financial Services by 1,646.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider’s stock valued at $2,437,000 after acquiring an additional 49,628 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in First Business Financial Services during the 3rd quarter valued at $1,657,000. American Century Companies Inc. raised its holdings in First Business Financial Services by 43.5% in the 4th quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock worth $5,184,000 after purchasing an additional 33,957 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of First Business Financial Services by 104.4% in the 4th quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider’s stock worth $2,315,000 after purchasing an additional 25,550 shares during the period. 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.