Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Drops By 7.0%

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totalling 27,700 shares, a decrease of 7.0% from the July 31st total of 29,800 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 16,300 shares, the short-interest ratio is currently 1.7 days.

First Business Financial Services Stock Up 0.6 %

FBIZ stock opened at $45.37 on Monday. The company has a fifty day moving average price of $40.70 and a 200 day moving average price of $36.73. First Business Financial Services has a 12 month low of $28.35 and a 12 month high of $47.23. The company has a market cap of $376.12 million, a price-to-earnings ratio of 10.45 and a beta of 0.83. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.08 and a quick ratio of 1.07.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The firm had revenue of $65.34 million during the quarter, compared to the consensus estimate of $36.73 million. Sell-side analysts expect that First Business Financial Services will post 4.71 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. First Business Financial Services’s payout ratio is currently 23.04%.

Hedge Funds Weigh In On First Business Financial Services

A number of large investors have recently bought and sold shares of FBIZ. Lazard Asset Management LLC purchased a new position in First Business Financial Services during the 1st quarter worth $60,000. BNP Paribas Financial Markets increased its holdings in shares of First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,659 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of First Business Financial Services by 70.7% in the 4th quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,601 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of First Business Financial Services in the 2nd quarter valued at about $204,000. Finally, Quadrature Capital Ltd purchased a new position in shares of First Business Financial Services in the 1st quarter valued at about $247,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Wall Street Analysts Forecast Growth

FBIZ has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. Piper Sandler upped their target price on shares of First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, July 29th. DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $50.00 in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $50.75.

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.