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

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $43.31 and traded as high as $46.74. First Business Financial Services shares last traded at $46.73, with a volume of 29,644 shares trading hands.

Analysts Set New Price Targets

Several research analysts have weighed in on FBIZ shares. Piper Sandler cut their price objective on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price objective on shares of First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, First Business Financial Services currently has an average rating of “Buy” and an average price target of $51.75.

First Business Financial Services Stock Performance

The company has a 50-day moving average of $47.81 and a 200 day moving average of $43.42. The firm has a market capitalization of $383.98 million, a PE ratio of 9.93 and a beta of 0.86. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. During the same period last year, the firm posted $1.17 earnings per share. Equities research analysts predict that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

First Business Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.16%. First Business Financial Services’s payout ratio is 21.46%.

Insider Activity

In related news, Director William Kent Lorenz sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the transaction, the director now directly owns 8,341 shares in the company, valued at $408,709. This trade represents a 10.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Edward Hartlieb sold 6,344 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $43.15, for a total value of $273,743.60. Following the completion of the sale, the chief executive officer now owns 28,162 shares of the company’s stock, valued at $1,215,190.30. The trade was a 18.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,344 shares of company stock valued at $2,275,144. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of First Business Financial Services

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in First Business Financial Services in the 3rd quarter worth approximately $125,000. Squarepoint Ops LLC bought a new position in First Business Financial Services in the 2nd quarter worth $204,000. ERn Financial LLC purchased a new stake in shares of First Business Financial Services in the 3rd quarter worth about $210,000. Creative Planning purchased a new position in shares of First Business Financial Services during the third quarter valued at about $216,000. Finally, Beese Fulmer Investment Management Inc. bought a new position in First Business Financial Services in the third quarter worth about $217,000. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

First Business Financial Services Company Profile

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.