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

Key Points

• Technical breakout: FBIZ crossed above its 200-day moving average
• Analyst optimism: Four analysts rate the stock a Buy with a consensus price target of $67, and several firms recently raised targets (Piper Sandler $70, DA Davidson $68, KBW $63).
• Earnings beat and dividend boost: Q4 EPS of $1.58 topped estimates of $1.38 while revenue slightly missed, and the company raised its quarterly dividend to $0.34 (annualized $1.36) for a ~2.3% yield.

Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $54.16 and traded as high as $59.00. First Business Financial Services shares last traded at $58.37, with a volume of 47,814 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FBIZ shares. DA Davidson reissued a "buy" rating and set a $68.00 target price on shares of First Business Financial Services in a research note on Monday, February 2nd. Weiss Ratings restated a "buy (b)" rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Piper Sandler restated an "overweight" rating and issued a $70.00 price target (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $59.00 to $63.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, First Business Financial Services currently has an average rating of "Buy" and a consensus price target of $67.00.

First Business Financial Services Trading Down 0.1%

The firm has a market cap of $486.81 million, a price-to-earnings ratio of 9.81 and a beta of 0.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.03. The business has a fifty day moving average of $55.57 and a two-hundred day moving average of $54.16.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.20. The business had revenue of $42.22 million for the quarter, compared to analysts' expectations of $43.10 million. First Business Financial Services had a return on equity of 14.77% and a net margin of 18.02%. As a group, equities analysts expect that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, February 28th. Shareholders of record on Saturday, February 14th were issued a dividend of $0.34 per share. This is a boost from First Business Financial Services's previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 2.3%. First Business Financial Services's payout ratio is currently 22.86%.

Institutional Investors Weigh In On First Business Financial Services

A number of large investors have recently bought and sold shares of FBIZ. Versant Capital Management Inc grew its holdings in First Business Financial Services by 163.2% during the 3rd quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider's stock valued at $30,000 after buying an additional 364 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in First Business Financial Services during the 3rd quarter valued at $33,000. State of Alaska Department of Revenue grew its holdings in First Business Financial Services by 174.2% during the 4th quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider's stock valued at $48,000 after buying an additional 575 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in First Business Financial Services by 32,175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider's stock valued at $65,000 after buying an additional 1,287 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in First Business Financial Services by 356.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider's stock valued at $96,000 after buying an additional 1,476 shares during the last quarter. Institutional investors and hedge funds own 60.07% of the company's stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc NASDAQ: FBIZ is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.

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