LSV Asset Management Increases Holdings in First Business Financial Services, Inc. $FBIZ

LSV Asset Management increased its position in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 44.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,389 shares of the financial services provider’s stock after purchasing an additional 38,364 shares during the quarter. LSV Asset Management owned approximately 1.49% of First Business Financial Services worth $6,376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of First Business Financial Services by 3.3% in the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock worth $645,000 after buying an additional 431 shares during the period. AQR Capital Management LLC lifted its stake in First Business Financial Services by 104.5% in the first quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 4,924 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $222,000 after acquiring an additional 234 shares in the last quarter. CWM LLC increased its position in First Business Financial Services by 72.9% during the 2nd quarter. CWM LLC now owns 1,579 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 666 shares during the period. Finally, R Squared Ltd bought a new stake in shares of First Business Financial Services in the 2nd quarter valued at about $275,000. 60.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

First Business Financial Services Stock Performance

Shares of FBIZ stock opened at $58.36 on Monday. First Business Financial Services, Inc. has a 12-month low of $42.18 and a 12-month high of $60.53. The business’s fifty day simple moving average is $56.65 and its 200-day simple moving average is $52.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77. The company has a market cap of $485.56 million, a PE ratio of 9.81 and a beta of 0.76.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $42.22 million for the quarter, compared to the consensus estimate of $43.10 million. Analysts expect 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 disclosed a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s payout ratio is 22.86%.

First Business Financial Services Company 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.