First Business Financial Services, Inc. $FBIZ Shares Purchased by LSV Asset Management

LSV Asset Management increased its position in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 44.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,389 shares of the financial services provider’s stock after acquiring an additional 38,364 shares during the period. LSV Asset Management’s holdings in First Business Financial Services were worth $6,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in First Business Financial Services by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 171,490 shares of the financial services provider’s stock worth $8,688,000 after buying an additional 25,260 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of First Business Financial Services by 133.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 13,957 shares of the financial services provider’s stock valued at $707,000 after acquiring an additional 7,970 shares during the last quarter. De Lisle Partners LLP increased its stake in shares of First Business Financial Services by 18.8% in the second quarter. De Lisle Partners LLP now owns 88,640 shares of the financial services provider’s stock worth $4,487,000 after acquiring an additional 14,000 shares during the period. M3F Inc. raised its holdings in shares of First Business Financial Services by 3.1% during the second quarter. M3F Inc. now owns 96,561 shares of the financial services provider’s stock worth $4,892,000 after purchasing an additional 2,943 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of First Business Financial Services during the third quarter worth $451,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

First Business Financial Services Price Performance

NASDAQ:FBIZ opened at $58.36 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.77. First Business Financial Services, Inc. has a 52 week low of $42.18 and a 52 week high of $60.53. The stock’s 50-day moving average price is $56.65 and its 200-day moving average price is $52.84. The stock has a market capitalization of $485.56 million, a PE ratio of 9.81 and a beta of 0.76.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. First Business Financial Services had a return on equity of 15.05% and a net margin of 18.02%.The company had revenue of $42.22 million for the quarter, compared to the consensus estimate of $43.10 million. As a group, equities analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th will be given a dividend of $0.34 per share. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.3%. First Business Financial Services’s payout ratio is 22.86%.

Analyst Ratings Changes

Several equities research analysts have commented on FBIZ shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. DA Davidson restated a “buy” rating and issued a $68.00 target price on shares of First Business Financial Services in a research note on Monday, February 2nd. Piper Sandler reaffirmed an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $67.00.

First Business Financial Services Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.