Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Decreases By 18.4%

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 57,853 shares, a drop of 18.4% from the January 15th total of 70,899 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 25,968 shares, the days-to-cover ratio is presently 2.2 days. Based on an average trading volume of 25,968 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.7% of the company’s stock are short sold.

First Business Financial Services Stock Performance

Shares of FBIZ traded down $0.35 during midday trading on Monday, reaching $58.36. 26,069 shares of the stock were exchanged, compared to its average volume of 26,432. First Business Financial Services has a twelve month low of $42.18 and a twelve month high of $60.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $485.56 million, a price-to-earnings ratio of 9.81 and a beta of 0.76. The business’s 50-day moving average price is $56.65 and its 200 day moving average price is $52.84.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. First Business Financial Services had a return on equity of 15.05% and a net margin of 18.02%.The firm had revenue of $42.22 million for the quarter, compared to the consensus estimate of $43.10 million. On average, sell-side analysts expect that First Business Financial Services will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be given a $0.34 dividend. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 13th. This represents a $1.36 annualized dividend and a yield of 2.3%. First Business Financial Services’s payout ratio is currently 22.86%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FBIZ. DA Davidson restated a “buy” rating and issued a $68.00 price objective on shares of First Business Financial Services in a report on Monday, February 2nd. Keefe, Bruyette & Woods increased their target price on First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Piper Sandler restated an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of First Business Financial Services in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Business Financial Services in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and an average price target of $67.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FBIZ. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of First Business Financial Services by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after buying an additional 234 shares during the period. Franklin Resources Inc. lifted its position in First Business Financial Services by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock worth $1,139,000 after acquiring an additional 239 shares during the period. Uncommon Cents Investing LLC grew its stake in shares of First Business Financial Services by 0.7% in the 3rd quarter. Uncommon Cents Investing LLC now owns 34,478 shares of the financial services provider’s stock valued at $1,767,000 after purchasing an additional 255 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of First Business Financial Services by 1.2% in the fourth quarter. Stifel Financial Corp now owns 23,035 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 272 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of First Business Financial Services by 2.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,635 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 298 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

About First Business Financial Services

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.