Short Interest in First Business Financial Services, Inc. (NASDAQ:FBIZ) Drops By 23.3%

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 53,801 shares, a decrease of 23.3% from the February 12th total of 70,157 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 35,283 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 35,283 shares, the short-interest ratio is currently 1.5 days. Approximately 0.7% of the company’s stock are sold short.

Analysts Set New Price Targets

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

First Business Financial Services Stock Performance

Shares of FBIZ stock traded down $0.52 during trading hours on Friday, reaching $51.97. The company had a trading volume of 19,260 shares, compared to its average volume of 31,541. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.03. The business has a fifty day moving average price of $56.32 and a 200-day moving average price of $53.68. First Business Financial Services has a one year low of $42.18 and a one year high of $60.53. The firm has a market cap of $433.43 million, a PE ratio of 8.73 and a beta of 0.75.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.20. First Business Financial Services had a net margin of 18.02% and a return on equity of 14.77%. The company had revenue of $42.22 million for the quarter, compared to analysts’ expectations of $43.10 million. Sell-side analysts predict that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th were paid a $0.34 dividend. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.6%. First Business Financial Services’s dividend payout ratio (DPR) is 22.86%.

Institutional Trading of First Business Financial Services

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in First Business Financial Services by 19.7% in the fourth quarter. Invesco Ltd. now owns 11,215 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 1,848 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of First Business Financial Services during the 4th quarter valued at about $219,000. Empowered Funds LLC increased its position in shares of First Business Financial Services by 4.5% during the 4th quarter. Empowered Funds LLC now owns 38,327 shares of the financial services provider’s stock valued at $2,081,000 after purchasing an additional 1,666 shares during the last quarter. Vista Investment Management increased its position in shares of First Business Financial Services by 0.8% during the 4th quarter. Vista Investment Management now owns 52,737 shares of the financial services provider’s stock valued at $2,864,000 after purchasing an additional 409 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of First Business Financial Services in the 4th quarter worth approximately $250,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

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.