First Business Financial Services (NASDAQ:FBIZ) Sets New 12-Month High - Still a Buy?

Key Points

• FBIZ reached a 52-week high, trading as high as $79.53 and last at $78.14, up from its prior close of $76.68.
• Analysts maintain a consensus “Buy” rating with an $82.50 price target; recent targets range from $74 to $88.
• The company beat quarterly estimates, reporting $1.95 EPS versus $1.67 expected and revenue of $47.51 million versus $46.88 million expected. It also declared a $0.34 quarterly dividend, a 1.7% yield at the reported share price.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) shares hit a new 52-week high on Wednesday. The company traded as high as $79.53 and last traded at $78.14, with a volume of 18,105 shares changing hands. The stock had previously closed at $76.68.

Wall Street Analyst Weigh In

FBIZ has been the topic of several recent analyst reports. Weiss Ratings cut First Business Financial Services from a "buy (a+)" rating to a "buy (a)" rating in a research report on Monday. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Raymond James Financial restated an "outperform" rating and issued a $83.00 price target on shares of First Business Financial Services in a research note on Monday. Piper Sandler lifted their price target on First Business Financial Services from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Monday. Finally, DA Davidson upped their price objective on First Business Financial Services from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $82.50.

First Business Financial Services Trading Up 1.5%

The stock has a market cap of $648.41 million, a PE ratio of 11.45 and a beta of 0.68. The business's fifty day moving average is $71.30 and its 200 day moving average is $62.56. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 0.48.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its earnings results on Thursday, October 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.28. First Business Financial Services had a net margin of 19.93% and a return on equity of 15.04%. The company had revenue of $47.51 million during the quarter, compared to analysts' expectations of $46.88 million. As a group, analysts predict that First Business Financial Services, Inc. will post 6.83 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. First Business Financial Services's dividend payout ratio is currently 19.97%.

Insider Buying and Selling at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares of the company's stock, valued at $1,582,784.50. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of First Business Financial Services

A number of institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. acquired a new stake in First Business Financial Services in the 3rd quarter valued at about $550,000. Inspire Investing LLC purchased a new position in First Business Financial Services during the 3rd quarter valued at about $644,000. Sequoia Financial Advisors LLC purchased a new position in First Business Financial Services during the 2nd quarter valued at about $255,000. Integrated Wealth Concepts LLC purchased a new position in First Business Financial Services during the 2nd quarter valued at about $43,000. Finally, Squarepoint Ops LLC raised its position in First Business Financial Services by 95.1% during the second quarter. Squarepoint Ops LLC now owns 28,061 shares of the financial services provider's stock worth $1,773,000 after acquiring an additional 13,681 shares during the last quarter. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

First Business Financial Services Company Profile

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.

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