First Business Financial Services, Inc. (NASDAQ:FBIZ) Sees Large Increase in Short Interest

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totalling 31,400 shares, a growth of 57.0% from the June 15th total of 20,000 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,300 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FBIZ shares. Piper Sandler restated an “overweight” rating and issued a $44.00 target price on shares of First Business Financial Services in a research report on Monday, March 18th. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday, July 1st.

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, Director William Kent Lorenz sold 1,345 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $34.51, for a total value of $46,415.95. Following the sale, the director now owns 9,836 shares in the company, valued at $339,440.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of FBIZ. Lazard Asset Management LLC acquired a new position in First Business Financial Services in the first quarter valued at $60,000. BNP Paribas Financial Markets lifted its holdings in First Business Financial Services by 73.1% in the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,659 shares during the period. New York State Common Retirement Fund lifted its holdings in First Business Financial Services by 70.7% in the fourth quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock valued at $155,000 after buying an additional 1,601 shares during the period. SG Americas Securities LLC raised its holdings in shares of First Business Financial Services by 28.1% during the fourth quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 938 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of First Business Financial Services during the first quarter valued at about $247,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ opened at $38.63 on Monday. The firm has a market cap of $320.24 million, a PE ratio of 8.90 and a beta of 0.83. The firm’s fifty day moving average is $34.76 and its 200-day moving average is $35.41. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.09 and a current ratio of 1.09. First Business Financial Services has a 52 week low of $28.35 and a 52 week high of $41.03.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Friday, April 26th. The financial services provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.09). The firm had revenue of $62.54 million for the quarter, compared to the consensus estimate of $37.47 million. First Business Financial Services had a return on equity of 13.51% and a net margin of 15.48%. Sell-side analysts predict that First Business Financial Services will post 4.52 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Thursday, May 9th were issued a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 annualized dividend and a yield of 2.59%. First Business Financial Services’s payout ratio is 23.04%.

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.