First Business Financial Services (NASDAQ:FBIZ) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• First Business Financial Services (NASDAQ:FBIZ) recently crossed above its 200-day moving average, with a current stock price of $47.68 after trading as high as $49.96.
• Piper Sandler raised their price target for FBIZ from $55.00 to $58.00, while the stock currently holds an average rating of "Buy" with a target of $59.67.
• The company announced a quarterly dividend of $0.29, resulting in an annualized yield of 2.4% and a payout ratio of 20.64%.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $49.57 and traded as high as $49.96. First Business Financial Services shares last traded at $47.68, with a volume of 48,118 shares.

Analysts Set New Price Targets

FBIZ has been the topic of a number of analyst reports. Piper Sandler raised their price target on First Business Financial Services from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of First Business Financial Services in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $59.67.

First Business Financial Services Stock Performance

The stock's 50-day moving average is $50.83 and its 200-day moving average is $49.57. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.83. The stock has a market cap of $396.70 million, a price-to-earnings ratio of 8.48 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The business had revenue of $41.04 million for the quarter, compared to the consensus estimate of $41.55 million. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. On average, analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a $0.29 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.4%. First Business Financial Services's dividend payout ratio (DPR) is presently 20.64%.

Insider Activity at First Business Financial Services

In related news, Director Jason R. Graham bought 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $47.87 per share, for a total transaction of $47,870.00. Following the transaction, the director directly owned 3,220 shares of the company's stock, valued at approximately $154,141.40. This represents a 45.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ralph R. Kauten acquired 10,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $47.80 per share, with a total value of $478,000.00. Following the acquisition, the director owned 29,756 shares of the company's stock, valued at approximately $1,422,336.80. This trade represents a 50.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FBIZ. Cubist Systematic Strategies LLC acquired a new stake in shares of First Business Financial Services during the first quarter worth approximately $258,000. First Business Financial Services Inc. lifted its position in First Business Financial Services by 4.7% in the first quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider's stock worth $18,569,000 after purchasing an additional 17,731 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of First Business Financial Services by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,883 shares of the financial services provider's stock worth $146,000 after buying an additional 288 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of First Business Financial Services by 8.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,226 shares of the financial services provider's stock worth $624,000 after buying an additional 1,047 shares in the last quarter. Finally, CWM LLC grew its holdings in First Business Financial Services by 48.7% during the 1st quarter. CWM LLC now owns 913 shares of the financial services provider's stock worth $43,000 after acquiring an additional 299 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.

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