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

First Business Financial Services, Inc. (NASDAQ:FBIZ) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 24,200 shares, a growth of 13.6% from the December 31st total of 21,300 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 27,300 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

A number of research analysts have recently commented on FBIZ shares. Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. Raymond James increased their target price on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler lowered their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.25.

First Business Financial Services Price Performance

NASDAQ FBIZ traded up $0.82 during trading hours on Monday, hitting $52.48. The company had a trading volume of 33,972 shares, compared to its average volume of 28,700. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The firm has a market capitalization of $435.62 million, a price-to-earnings ratio of 10.04 and a beta of 0.88. First Business Financial Services has a 52 week low of $32.56 and a 52 week high of $53.79. The firm has a 50 day simple moving average of $47.48 and a 200 day simple moving average of $45.48.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. Equities research analysts expect that First Business Financial Services will post 5.24 earnings per share for the current year.

First Business Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.21%. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.25. First Business Financial Services’s dividend payout ratio (DPR) is presently 19.16%.

Insider Transactions at First Business Financial Services

In related news, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total value of $49,000.00. Following the sale, the director now owns 8,341 shares of the company’s stock, valued at approximately $408,709. The trade was a 10.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Corey A. Chambas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.81, for a total value of $1,952,400.00. Following the completion of the transaction, the chief executive officer now owns 112,750 shares in the company, valued at approximately $5,503,327.50. The trade was a 26.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FBIZ. Segall Bryant & Hamill LLC purchased a new stake in First Business Financial Services in the third quarter valued at approximately $1,657,000. De Lisle Partners LLP raised its position in shares of First Business Financial Services by 43.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock valued at $3,040,000 after buying an additional 20,183 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of First Business Financial Services by 307.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock worth $1,115,000 after acquiring an additional 18,458 shares during the last quarter. First Business Financial Services Inc. grew its position in First Business Financial Services by 3.4% in the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock worth $16,682,000 after acquiring an additional 12,194 shares in the last quarter. Finally, Fourthstone LLC bought a new position in First Business Financial Services in the third quarter valued at $389,000. Institutional investors own 60.07% of the company’s stock.

About First Business Financial Services

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.