First Business Financial Services Inc. Acquires 10,176 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

First Business Financial Services Inc. boosted its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 about 1.7% of First Business Financial Services Inc.’s holdings, making the stock its 10th biggest position. First Business Financial Services Inc. owned approximately 4.53% of First Business Financial Services worth $17,409,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FBIZ. R Squared Ltd acquired a new position in First Business Financial Services in the 4th quarter worth about $49,000. SG Americas Securities LLC increased its position in 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 purchasing an additional 679 shares during the last quarter. Creative Planning acquired a new position in First Business Financial Services in the 3rd quarter worth about $216,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Business Financial Services in the 3rd quarter worth about $316,000. Finally, Fourthstone LLC acquired a new position in First Business Financial Services in the 3rd quarter worth about $389,000. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ opened at $49.79 on Thursday. The business has a 50 day moving average price of $49.47 and a 200 day moving average price of $47.20. First Business Financial Services, Inc. has a twelve month low of $32.56 and a twelve month high of $56.46. The company has a market cap of $413.31 million, a price-to-earnings ratio of 9.54 and a beta of 0.88. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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%. Research analysts predict that First Business Financial Services, Inc. will post 5.43 earnings per share 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. Investors of record on Friday, February 14th were paid 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 presently 22.22%.

Insider Activity at First Business Financial Services

In related news, insider Daniel Ovokaitys sold 4,828 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $54.55, for a total transaction of $263,367.40. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Raymond James upped their target price on 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. Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler upped their price target on First Business Financial Services from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, First Business Financial Services currently has an average rating of “Buy” and a consensus target price of $58.75.

First Business Financial Services 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.