First Business Financial Services (NASDAQ:FBIZ) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• FBIZ shares crossed above their 200-day moving average, reaching $70.53 before closing around $70.20, compared with a 200-day average of $62.14.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $75.50; Piper Sandler raised its target to $84, while DA Davidson set an $80 target.
• The company exceeded quarterly expectations, reporting $1.84 in earnings per share versus a $1.56 consensus estimate, and maintains a quarterly dividend of $0.34, equal to a 1.9% annual yield.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $62.14 and traded as high as $70.53. First Business Financial Services shares last traded at $70.20, with a volume of 173,622 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. 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 research note on Monday, August 3rd. Weiss Ratings restated a "buy (a-)" rating on shares of First Business Financial Services in a research report on Friday, September 11th. Finally, DA Davidson set a $80.00 price objective on First Business Financial Services and gave the stock a "buy" rating in a research note 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $75.50.

First Business Financial Services Stock Up 1.3%

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 company has a market cap of $587.57 million, a price-to-earnings ratio of 10.70 and a beta of 0.65. The stock's 50-day moving average is $70.21 and its 200-day moving average is $62.14.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its quarterly 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, analysts anticipate that First Business Financial Services, Inc. will post 6.56 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. Shareholders of record on Wednesday, August 12th were issued a $0.34 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $1.36 annualized dividend and a yield of 1.9%. First Business Financial Services's dividend payout ratio is presently 20.73%.

Insider Buying and Selling

In other news, insider Jodi Chandler sold 675 shares of the business'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 transaction of $47,378.25. Following the completion of the sale, the insider owned 22,550 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.00% of the company's stock.

Institutional Trading of First Business Financial Services

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in First Business Financial Services during the second quarter worth $58,646,000. The Manufacturers Life Insurance Company bought a new position in First Business Financial Services in the 2nd quarter valued at about $15,351,000. De Lisle Partners LLP acquired a new position in First Business Financial Services during the 2nd quarter valued at about $6,258,000. Vista Investment Management bought a new stake in First Business Financial Services during the 2nd quarter worth approximately $3,307,000. Finally, Empowered Funds LLC purchased a new stake in shares of First Business Financial Services in the second quarter worth approximately $2,853,000. 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 the holding company for First Business Bank, a full-service financial institution focused on serving privately held businesses, business owners, professionals and high-net-worth individuals. Through its banking subsidiary, the company provides commercial banking, business lending and deposit services tailored to the needs of small and middle-market companies.

Its products and services include commercial real estate and working-capital loans, equipment financing, lines of credit, treasury management, checking and savings accounts, certificates of deposit, and other business deposit products.

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