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 significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 24,200 shares, an increase of 13.6% from the December 15th total of 21,300 shares. Based on an average daily volume of 27,300 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.3% of the company’s stock are short sold.

First Business Financial Services Stock Up 1.2 %

Shares of NASDAQ FBIZ opened at $45.95 on Monday. The firm’s fifty day moving average is $47.89 and its 200 day moving average is $44.75. First Business Financial Services has a 52 week low of $32.56 and a 52 week high of $52.22. 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 market cap of $381.39 million, a price-to-earnings ratio of 9.86 and a beta of 0.87.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. During the same quarter in the previous year, the business earned $1.17 EPS. On average, equities research analysts expect that First Business Financial Services will post 4.78 earnings per share for the current year.

First Business Financial Services Announces Dividend

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

Analyst Upgrades and Downgrades

FBIZ has been the topic of a number of recent research reports. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $51.75.

Insider Buying and Selling

In related news, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.81, for a total transaction 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. This represents a 26.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Kent Lorenz sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the sale, the director now owns 8,341 shares of the company’s stock, valued at $408,709. This trade represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,344 shares of company stock worth $2,275,144. 6.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FBIZ. SG Americas Securities LLC bought a new position in shares of First Business Financial Services in the 3rd quarter worth about $125,000. Squarepoint Ops LLC purchased a new stake in First Business Financial Services in the second quarter worth about $204,000. ERn Financial LLC bought a new position in shares of First Business Financial Services during the third quarter valued at approximately $210,000. Creative Planning purchased a new position 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 during the third quarter valued at approximately $217,000. Hedge funds and other institutional investors 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.