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

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

First Business Financial Services Trading Up 1.2 %

First Business Financial Services stock opened at $45.95 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services has a 12-month low of $32.56 and a 12-month high of $52.22. The firm has a market capitalization of $381.39 million, a price-to-earnings ratio of 9.86 and a beta of 0.87. The firm has a 50 day moving average of $47.89 and a 200 day moving average of $44.75.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. The firm had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. During the same period in the prior year, the company posted $1.17 earnings per share. As a group, research analysts predict that First Business Financial Services will post 4.78 earnings per share for the current year.

First Business Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.18%. First Business Financial Services’s dividend payout ratio is presently 21.46%.

Analyst Upgrades and Downgrades

FBIZ has been the subject of a number of research reports. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Piper Sandler cut their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their target price on First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $51.75.

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, CEO James Edward Hartlieb sold 6,344 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $43.15, for a total value of $273,743.60. Following the transaction, the chief executive officer now directly owns 28,162 shares of the company’s stock, valued at approximately $1,215,190.30. This trade represents a 18.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the sale, the director now directly owns 8,341 shares of the company’s stock, valued at $408,709. The trade was a 10.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,344 shares of company stock worth $2,275,144. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in First Business Financial Services during the 3rd quarter valued at approximately $125,000. Squarepoint Ops LLC purchased a new stake in First Business Financial Services during the 2nd quarter valued at approximately $204,000. ERn Financial LLC purchased a new stake in First Business Financial Services during the 3rd quarter valued at approximately $210,000. Creative Planning bought a new stake in shares of First Business Financial Services during the third quarter valued at approximately $216,000. Finally, Beese Fulmer Investment Management Inc. purchased a new position in shares of First Business Financial Services in the third quarter worth $217,000. 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.