Ieq Capital LLC Buys Shares of 13,499 First Business Financial Services, Inc. $FBIZ

Ieq Capital LLC bought a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) during the 2nd quarter, HoldingsChannel reports. The firm bought 13,499 shares of the financial services provider’s stock, valued at approximately $853,000.

A number of other large investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of First Business Financial Services by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock valued at $222,000 after purchasing an additional 234 shares during the period. Franklin Resources Inc. grew its holdings in First Business Financial Services by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 239 shares in the last quarter. Stifel Financial Corp increased its position in shares of First Business Financial Services by 1.2% during the fourth quarter. Stifel Financial Corp now owns 23,035 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 272 shares during the period. First Trust Advisors LP increased its position in shares of First Business Financial Services by 6.6% during the second quarter. First Trust Advisors LP now owns 5,309 shares of the financial services provider’s stock valued at $269,000 after buying an additional 327 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of First Business Financial Services by 0.7% in the second quarter. Invesco Ltd. now owns 58,169 shares of the financial services provider’s stock worth $2,947,000 after buying an additional 400 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FBIZ. Piper Sandler restated an “overweight” rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. 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. DA Davidson set a $80.00 price target on shares of First Business Financial Services and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $75.50.

First Business Financial Services Stock Performance

NASDAQ FBIZ opened at $70.82 on Friday. First Business Financial Services, Inc. has a 52-week low of $46.07 and a 52-week high of $73.48. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $592.76 million, a P/E ratio of 10.80 and a beta of 0.66. The company has a fifty day moving average of $66.92 and a 200-day moving average of $60.06.

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

First Business Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 12th. First Business Financial Services’s dividend payout ratio is presently 20.73%.

About First Business Financial Services

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.