Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Decreases By 10.2%

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 25,500 shares, a decline of 10.2% from the August 31st total of 28,400 shares. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On First Business Financial Services

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of First Business Financial Services by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock valued at $19,893,000 after purchasing an additional 7,871 shares during the period. Vanguard Group Inc. lifted its holdings in shares of First Business Financial Services by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock worth $13,540,000 after buying an additional 7,499 shares during the period. Quadrature Capital Ltd bought a new position in shares of First Business Financial Services during the 1st quarter worth $247,000. Squarepoint Ops LLC purchased a new position in shares of First Business Financial Services during the second quarter valued at $204,000. Finally, First Business Financial Services Inc. raised its holdings in shares of First Business Financial Services by 1.2% in the second quarter. First Business Financial Services Inc. now owns 353,718 shares of the financial services provider’s stock valued at $13,084,000 after acquiring an additional 4,196 shares in the last quarter. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Trading Down 3.5 %

NASDAQ FBIZ traded down $1.60 on Tuesday, hitting $43.99. 7,869 shares of the stock were exchanged, compared to its average volume of 14,923. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.08. First Business Financial Services has a 52-week low of $28.35 and a 52-week high of $47.23. The firm has a market capitalization of $364.63 million, a P/E ratio of 10.14 and a beta of 0.82. The stock has a fifty day moving average price of $43.54 and a two-hundred day moving average price of $38.09.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The company had revenue of $65.34 million for the quarter, compared to the consensus estimate of $36.73 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. Research analysts forecast that First Business Financial Services will post 4.71 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Thursday, August 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Thursday, August 8th. First Business Financial Services’s dividend payout ratio is currently 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.