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

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the target of a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 27,700 shares, a drop of 7.0% from the July 31st total of 29,800 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 16,300 shares, the short-interest ratio is currently 1.7 days.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in First Business Financial Services in the first quarter valued at $60,000. BNP Paribas Financial Markets raised its position in shares of First Business Financial Services by 73.1% during the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 1,659 shares in the last quarter. New York State Common Retirement Fund lifted its stake in First Business Financial Services by 70.7% during the fourth quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,601 shares during the last quarter. Squarepoint Ops LLC acquired a new position in First Business Financial Services in the second quarter valued at approximately $204,000. Finally, Quadrature Capital Ltd acquired a new position in First Business Financial Services in the first quarter valued at approximately $247,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on FBIZ. DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $50.00 in a report on Monday, August 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $51.00 price target (up from $48.00) on shares of First Business Financial Services in a research note on Monday, July 29th. Piper Sandler increased their price target on shares of First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $50.75.

First Business Financial Services Trading Down 2.5 %

FBIZ opened at $44.24 on Wednesday. The business has a fifty day moving average price of $40.93 and a 200 day moving average price of $36.79. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.08 and a quick ratio of 1.07. First Business Financial Services has a 12 month low of $28.35 and a 12 month high of $47.23. The stock has a market capitalization of $366.71 million, a price-to-earnings ratio of 10.19 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. The business had revenue of $65.34 million during the quarter, compared to the consensus estimate of $36.73 million. Sell-side analysts expect that First Business Financial Services will post 4.71 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. First Business Financial Services’s payout ratio is 23.04%.

First Business Financial Services Company Profile

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.