First Business Financial Services (NASDAQ:FBIZ) Share Price Passes Above 200-Day Moving Average - Here's What Happened

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $47.18 and traded as high as $52.13. First Business Financial Services shares last traded at $50.60, with a volume of 28,892 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of First Business Financial Services from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Raymond James raised 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, February 3rd. StockNews.com raised First Business Financial Services from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price target on First Business Financial Services from $58.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $58.75.

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First Business Financial Services Trading Down 0.2 %

The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average of $49.57 and a two-hundred day moving average of $47.25. The stock has a market capitalization of $406.42 million, a price-to-earnings ratio of 9.38 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. On average, research analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.37%. 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 22.22%.

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the sale, the insider now owns 7,718 shares of the company's stock, valued at approximately $421,016.90. This trade represents a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new position in shares of First Business Financial Services during the 4th quarter worth $49,000. Public Employees Retirement System of Ohio acquired a new position in shares of First Business Financial Services during the 4th quarter worth $81,000. Virtus Investment Advisers Inc. acquired a new position in shares of First Business Financial Services during the 4th quarter worth $95,000. BNP Paribas Financial Markets raised its stake in shares of First Business Financial Services by 28.9% during the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider's stock worth $101,000 after buying an additional 490 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of First Business Financial Services by 24.8% during the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock worth $158,000 after buying an additional 679 shares during the last quarter. 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.