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

Key Points

• First Business Financial Services' stock (NASDAQ:FBIZ) recently crossed above its 200-day moving average of $49.47, with recent trading at $49.41.
• The company announced a quarterly dividend of $0.29 per share, representing an annual yield of 2.3%, with the payment date set for August 25th.
• Wall Street analysts have shown optimism, with ratings upgrades from Wall Street Zen and Piper Sandler, with price targets increasing to as high as $58.00.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $49.47 and traded as high as $49.47. First Business Financial Services shares last traded at $49.41, with a volume of 30,109 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods lowered their price objective on First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Piper Sandler raised their price objective on First Business Financial Services from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th.

First Business Financial Services Price Performance

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 $412.17 million, a price-to-earnings ratio of 8.81 and a beta of 0.70. The stock has a 50-day moving average price of $50.16 and a two-hundred day moving average price of $49.48.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.35 earnings per share for the quarter, hitting analysts' consensus estimates of $1.35. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. The firm had revenue of $41.04 million during the quarter, compared to analysts' expectations of $41.55 million. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, August 11th. First Business Financial Services's payout ratio is presently 20.64%.

Insider Activity

In related news, Director Jason R. Graham acquired 1,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $47.87 per share, with a total value of $47,870.00. Following the acquisition, the director directly owned 3,220 shares in the company, valued at $154,141.40. This represents a 45.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ralph R. Kauten acquired 10,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $47.80 per share, with a total value of $478,000.00. Following the acquisition, the director owned 29,756 shares in the company, 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 insiders.

Hedge Funds Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently modified their holdings of FBIZ. CWM LLC lifted its holdings in shares of First Business Financial Services by 48.7% in the 1st quarter. CWM LLC now owns 913 shares of the financial services provider's stock valued at $43,000 after buying an additional 299 shares during the period. EverSource Wealth Advisors LLC raised its holdings in First Business Financial Services by 32,175.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider's stock worth $65,000 after purchasing an additional 1,287 shares during the period. Public Employees Retirement System of Ohio acquired a new position in First Business Financial Services in the 4th quarter worth about $81,000. Virtus Investment Advisers Inc. acquired a new position in First Business Financial Services in the 4th quarter worth about $95,000. Finally, BNP Paribas Financial Markets raised its holdings in First Business Financial Services by 28.9% in the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider's stock worth $101,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds 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.