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

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 31,400 shares, an increase of 57.0% from the June 15th total of 20,000 shares. Based on an average trading volume of 13,300 shares, the days-to-cover ratio is presently 2.4 days. Approximately 0.4% of the company’s shares are sold short.

Insider Transactions at First Business Financial Services

In other news, Director William Kent Lorenz sold 1,345 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $34.51, for a total transaction of $46,415.95. Following the transaction, the director now directly owns 9,836 shares of the company’s stock, valued at $339,440.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new position in First Business Financial Services during the first quarter valued at $60,000. New York State Common Retirement Fund lifted its position 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 valued at $155,000 after purchasing an additional 1,601 shares during the period. BNP Paribas Financial Markets lifted its position in First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,659 shares during the period. SG Americas Securities LLC raised its position in shares of First Business Financial Services by 28.1% in the fourth quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 938 shares during the period. Finally, 1834 Investment Advisors Co. acquired a new position in shares of First Business Financial Services in the fourth quarter worth about $257,000. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FBIZ has been the topic of several analyst reports. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $44.00 price target on shares of First Business Financial Services in a report on Monday, March 18th.

First Business Financial Services Trading Up 2.7 %

NASDAQ:FBIZ opened at $38.63 on Monday. First Business Financial Services has a 12 month low of $28.35 and a 12 month high of $41.03. The firm has a fifty day simple moving average of $34.76 and a 200-day simple moving average of $35.41. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $320.24 million, a P/E ratio of 8.90 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Friday, April 26th. The financial services provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.09). First Business Financial Services had a return on equity of 13.51% and a net margin of 15.48%. The company had revenue of $62.54 million for the quarter, compared to analyst estimates of $37.47 million. On average, equities research analysts anticipate that First Business Financial Services will post 4.52 earnings per share for the current year.

First Business Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Thursday, May 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. First Business Financial Services’s dividend payout ratio is presently 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.