Vista Investment Management Acquires New Position in First Business Financial Services, Inc. $FBIZ

Vista Investment Management acquired a new stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 52,349 shares of the financial services provider’s stock, valued at approximately $3,307,000. First Business Financial Services accounts for approximately 1.0% of Vista Investment Management’s holdings, making the stock its 25th largest position. Vista Investment Management owned about 0.63% of First Business Financial Services as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of First Business Financial Services during the second quarter worth approximately $58,646,000. De Lisle Partners LLP purchased a new stake in shares of First Business Financial Services in the second quarter valued at approximately $6,258,000. Federated Hermes Inc. boosted its holdings in shares of First Business Financial Services by 45.8% in the fourth quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock valued at $5,689,000 after purchasing an additional 32,899 shares during the period. Bank of New York Mellon Corp bought a new position in First Business Financial Services in the second quarter worth approximately $2,061,000. Finally, Vanguard Group Inc. lifted its stake in First Business Financial Services by 6.8% in the third quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after acquiring an additional 30,499 shares during the period. 60.07% of the stock is currently owned by institutional investors.

First Business Financial Services Trading Down 0.2%

FBIZ opened at $68.69 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. The firm has a market cap of $574.94 million, a price-to-earnings ratio of 10.47 and a beta of 0.66. First Business Financial Services, Inc. has a 12 month low of $46.07 and a 12 month high of $73.48. The stock has a fifty day moving average price of $66.08 and a 200-day moving average price of $59.75.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. The company had revenue of $46.71 million for the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. As a group, equities research analysts anticipate that First Business Financial Services, Inc. will post 6.56 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 12th. First Business Financial Services’s payout ratio is 20.73%.

Wall Street Analyst Weigh In

FBIZ has been the topic of several recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Raymond James Financial set a $64.00 price target on shares of First Business Financial Services in a report on Monday, April 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. DA Davidson set a $80.00 price objective on shares of First Business Financial Services and gave the company a “buy” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and an average price target of $75.50.

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.