First Business Financial Services (NASDAQ:FBIZ) Share Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• FBIZ shares broke above their 200-day moving average, reaching $71.55 and last trading at $70.52, compared with the $64.01 average.
• Analyst sentiment is bullish: the stock has an average “Buy” rating and a consensus price target of $78.25, with individual targets ranging from $74 to $84.
• The company reported quarterly earnings of $1.84 per share, beating estimates by $0.28, and pays a quarterly dividend of $0.34 per share, representing a 1.9% annual yield.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $64.01 and traded as high as $71.55. First Business Financial Services shares last traded at $70.52, with a volume of 60,744 shares traded.

Analyst Upgrades and Downgrades

FBIZ has been the topic of several recent research reports. Weiss Ratings upgraded shares of First Business Financial Services from a "buy (a-)" rating to a "buy (a+)" rating in a research report on Thursday, October 8th. DA Davidson set a $80.00 price objective on shares of First Business Financial Services and gave the company a "buy" rating in a research note on Monday, August 3rd. Raymond James Financial assumed coverage on shares of First Business Financial Services in a report on Thursday, October 1st. They set an "outperform" rating and a $75.00 target price for the company. Piper Sandler restated an "overweight" rating and set a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $78.25.

First Business Financial Services Trading Up 0.6%

The firm has a market cap of $590.25 million, a price-to-earnings ratio of 10.75 and a beta of 0.67. The business has a 50 day moving average of $70.66 and a 200 day moving average of $64.01. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.28. The firm had revenue of $46.71 million during the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. On average, research analysts forecast that First Business Financial Services, Inc. will post 6.59 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

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

Insider Activity at First Business Financial Services

In other news, insider Jodi Chandler sold 675 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the transaction, the insider owned 22,550 shares of the company's stock, valued at $1,582,784.50. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of First Business Financial Services

A number of hedge funds have recently bought and sold shares of FBIZ. Integrated Wealth Concepts LLC purchased a new stake in First Business Financial Services in the 2nd quarter worth approximately $43,000. Legal & General Group Plc acquired a new position in First Business Financial Services in the 2nd quarter valued at $51,000. R Squared Ltd raised its holdings in First Business Financial Services by 15.2% in the 1st quarter. R Squared Ltd now owns 8,259 shares of the financial services provider's stock valued at $445,000 after acquiring an additional 1,091 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of First Business Financial Services by 29.3% during the 1st quarter. Quantinno Capital Management LP now owns 13,359 shares of the financial services provider's stock worth $720,000 after purchasing an additional 3,030 shares during the period. Finally, Algert Global LLC purchased a new position in shares of First Business Financial Services during the 2nd quarter worth $226,000. Institutional investors and hedge funds own 60.07% of the company's stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc is a bank holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, First Business Bank, the company provides commercial banking services primarily to small and middle-market businesses, business owners, professionals and individuals.

First Business Bank offers business checking and savings accounts, treasury management, commercial real estate lending, business loans, lines of credit, equipment financing and other lending solutions.

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