First Business Financial Services (NASDAQ:FBIZ) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• FBIZ shares climbed above their 200-day moving average, reaching $70.94 and last trading at $70.43, versus a 200-day average of $58.93.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and an average price target of $75.50; Piper Sandler raised its target to $84.
• The company exceeded quarterly expectations, reporting $1.84 in EPS versus a $1.56 estimate and $46.71 million in revenue, while declaring a quarterly dividend of $0.34 per share.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $58.93 and traded as high as $70.94. First Business Financial Services shares last traded at $70.43, with a volume of 42,051 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on FBIZ. Raymond James Financial set a $64.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of First Business Financial Services from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 15th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Finally, DA Davidson set a $80.00 price target on shares of First Business Financial Services and gave the company a "buy" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $75.50.

First Business Financial Services Trading Down 1.0%

The business has a fifty day moving average price of $63.97 and a two-hundred day moving average price of $58.93. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $589.50 million, a PE ratio of 10.74 and a beta of 0.65.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.28. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. The firm had revenue of $46.71 million for the quarter, compared to analyst estimates of $45.42 million. Analysts expect that First Business Financial Services, Inc. will post 6.56 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 12th. First Business Financial Services's payout ratio is 20.73%.

Hedge Funds Weigh In On First Business Financial Services

A number of hedge funds have recently made changes to their positions in FBIZ. Northwestern Mutual Wealth Management Co. acquired a new stake in First Business Financial Services in the 3rd quarter valued at approximately $33,000. State of Alaska Department of Revenue lifted its stake in First Business Financial Services by 174.2% during the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider's stock worth $48,000 after purchasing an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in First Business Financial Services by 32,175.0% during the second 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of First Business Financial Services by 356.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider's stock worth $96,000 after buying an additional 1,476 shares during the period. Finally, Virtus Advisers LLC purchased a new position in shares of First Business Financial Services during the third quarter worth $109,000. Hedge funds and other institutional investors 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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