First Business Financial Services, Inc. (NASDAQ:FBIZ) Short Interest Up 21.3% in February

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 70,157 shares, an increase of 21.3% from the January 29th total of 57,853 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 27,864 shares, the days-to-cover ratio is presently 2.5 days. Based on an average daily volume of 27,864 shares, the days-to-cover ratio is presently 2.5 days. Currently, 0.9% of the company’s stock are short sold.

Hedge Funds Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in FBIZ. LSV Asset Management increased its holdings in First Business Financial Services by 44.6% during the third quarter. LSV Asset Management now owns 124,389 shares of the financial services provider’s stock valued at $6,376,000 after buying an additional 38,364 shares during the last quarter. Federated Hermes Inc. grew its position in shares of First Business Financial Services by 45.8% during the 4th quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock valued at $5,689,000 after acquiring an additional 32,899 shares during the period. Daytona Street Capital LLC purchased a new stake in shares of First Business Financial Services in the 4th quarter worth $1,672,000. Vanguard Group Inc. raised its holdings in First Business Financial Services by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after purchasing an additional 30,499 shares during the period. Finally, American Century Companies Inc. lifted its position in First Business Financial Services by 17.3% during the second quarter. American Century Companies Inc. now owns 171,490 shares of the financial services provider’s stock valued at $8,688,000 after purchasing an additional 25,260 shares in the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

First Business Financial Services Trading Down 0.4%

NASDAQ:FBIZ opened at $54.70 on Wednesday. The company has a market cap of $456.20 million, a PE ratio of 9.19 and a beta of 0.75. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The company has a 50 day simple moving average of $56.60 and a two-hundred day simple moving average of $53.55. First Business Financial Services has a 12 month low of $42.18 and a 12 month high of $60.53.

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 14.77% 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. Research analysts forecast that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, February 28th. Shareholders of record on Saturday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s dividend payout ratio is presently 22.86%.

Analyst Upgrades and Downgrades

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

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.