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

First Business Financial Services, Inc. (NASDAQ:FBIZ) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 28,500 shares, a growth of 11.8% from the September 15th total of 25,500 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is presently 1.5 days.

First Business Financial Services Stock Performance

FBIZ traded up $0.19 during trading hours on Thursday, hitting $45.37. The company’s stock had a trading volume of 2,647 shares, compared to its average volume of 15,182. The company has a 50-day simple moving average of $43.45 and a 200 day simple moving average of $38.73. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $376.07 million, a PE ratio of 10.41 and a beta of 0.82. First Business Financial Services has a fifty-two week low of $28.35 and a fifty-two week high of $47.23.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $65.34 million for the quarter, compared to analyst estimates of $36.73 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. As a group, sell-side analysts expect that First Business Financial Services will post 4.7 EPS for the current year.

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.20%. The ex-dividend date was Thursday, August 8th. First Business Financial Services’s dividend payout ratio (DPR) is currently 23.04%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. DA Davidson raised shares of First Business Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the company from $36.00 to $50.00 in a report on Monday, August 5th. Piper Sandler lifted their target price on First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $50.75.

Institutional Trading of First Business Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in shares of First Business Financial Services by 73.1% in the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of First Business Financial Services by 7.8% during the 1st quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock valued at $1,541,000 after buying an additional 2,975 shares during the period. Pacific Ridge Capital Partners LLC grew its holdings in shares of First Business Financial Services by 1.7% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 169,903 shares of the financial services provider’s stock valued at $6,371,000 after acquiring an additional 2,894 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of First Business Financial Services by 2.1% during the first quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock worth $13,540,000 after acquiring an additional 7,499 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in First Business Financial Services during the first quarter valued at $247,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

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.