First Business Financial Services Inc. Has $17.41 Million Stake in First Business Financial Services, Inc. (NASDAQ:FBIZ)

First Business Financial Services Inc. grew its position in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 376,088 shares of the financial services provider’s stock after buying an additional 10,176 shares during the period. First Business Financial Services makes up 1.7% of First Business Financial Services Inc.’s investment portfolio, making the stock its 10th largest holding. First Business Financial Services Inc.’s holdings in First Business Financial Services were worth $17,409,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of First Business Financial Services in the 4th quarter worth approximately $49,000. SG Americas Securities LLC lifted its position in shares of First Business Financial Services by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 679 shares during the period. Creative Planning acquired a new position in shares of First Business Financial Services in the 3rd quarter worth approximately $216,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Business Financial Services during the 3rd quarter worth approximately $316,000. Finally, Fourthstone LLC acquired a new stake in First Business Financial Services in the 3rd quarter valued at $389,000. Institutional investors own 60.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Raymond James boosted their target price on shares of First Business Financial Services from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of First Business Financial Services from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, First Business Financial Services has a consensus rating of “Buy” and an average target price of $58.75.

First Business Financial Services Stock Down 1.6 %

Shares of NASDAQ:FBIZ opened at $49.79 on Thursday. First Business Financial Services, Inc. has a 52 week low of $32.56 and a 52 week high of $56.46. 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 company’s fifty day moving average is $49.47 and its 200-day moving average is $47.20. The company has a market capitalization of $413.31 million, a PE ratio of 9.54 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 predict that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 2.33%. First Business Financial Services’s dividend payout ratio is 22.22%.

Insider Buying and Selling

In related news, insider Daniel Ovokaitys sold 4,828 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the transaction, the insider now owns 7,718 shares in the company, valued at $421,016.90. This represents a 38.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by corporate insiders.

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.