Tower Research Capital LLC TRC Trims Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Tower Research Capital LLC TRC cut its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 47.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 762 shares of the financial services provider’s stock after selling 685 shares during the quarter. Tower Research Capital LLC TRC’s holdings in First Business Financial Services were worth $31,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FBIZ. Pacific Ridge Capital Partners LLC lifted its position in shares of First Business Financial Services by 2.7% during the third quarter. Pacific Ridge Capital Partners LLC now owns 169,134 shares of the financial services provider’s stock worth $5,076,000 after purchasing an additional 4,513 shares during the last quarter. Federated Hermes Inc. grew its position in shares of First Business Financial Services by 3.9% in the 4th quarter. Federated Hermes Inc. now owns 65,483 shares of the financial services provider’s stock worth $2,626,000 after acquiring an additional 2,444 shares in the last quarter. Uncommon Cents Investing LLC increased its holdings in shares of First Business Financial Services by 4.3% in the 4th quarter. Uncommon Cents Investing LLC now owns 36,255 shares of the financial services provider’s stock valued at $1,454,000 after acquiring an additional 1,485 shares during the last quarter. Riverwater Partners LLC raised its position in shares of First Business Financial Services by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 14,490 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 382 shares in the last quarter. Finally, 1834 Investment Advisors Co. bought a new position in First Business Financial Services during the fourth quarter worth $257,000. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Stock Performance

FBIZ traded up $0.47 during trading on Friday, reaching $35.30. 4,417 shares of the company were exchanged, compared to its average volume of 13,111. First Business Financial Services, Inc. has a 52 week low of $24.57 and a 52 week high of $41.03. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.34. The firm has a 50 day moving average of $34.62 and a 200 day moving average of $35.22. The stock has a market cap of $292.64 million, a P/E ratio of 8.13 and a beta of 0.79.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.09). First Business Financial Services had a net margin of 15.48% and a return on equity of 13.51%. The firm had revenue of $62.54 million for the quarter, compared to analyst estimates of $37.47 million. On average, sell-side analysts forecast that First Business Financial Services, Inc. will post 4.56 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Thursday, May 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.83%. First Business Financial Services’s payout ratio is currently 23.04%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FBIZ shares. Raymond James boosted their target price on shares of First Business Financial Services from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Piper Sandler reaffirmed an “overweight” rating and set a $44.00 price objective on shares of First Business Financial Services in a research report on Monday, March 18th.

About First Business Financial Services

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.