R Squared Ltd Invests $275,000 in First Business Financial Services, Inc. $FBIZ

R Squared Ltd bought a new position in First Business Financial Services, Inc. (NASDAQ:FBIZ) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,421 shares of the financial services provider’s stock, valued at approximately $275,000. R Squared Ltd owned about 0.07% of First Business Financial Services at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Business Financial Services by 5.2% in 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 during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in First Business Financial Services by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,883 shares of the financial services provider’s stock valued at $146,000 after buying an additional 288 shares in the last quarter. CWM LLC lifted its holdings in First Business Financial Services by 48.7% during the 1st quarter. CWM LLC now owns 913 shares of the financial services provider’s stock valued at $43,000 after buying an additional 299 shares in the last quarter. Federated Hermes Inc. lifted its holdings in First Business Financial Services by 0.6% during the 1st quarter. Federated Hermes Inc. now owns 70,279 shares of the financial services provider’s stock valued at $3,314,000 after buying an additional 401 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in First Business Financial Services by 3.3% during the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock valued at $645,000 after buying an additional 431 shares in the last quarter. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Trading Up 1.7%

NASDAQ FBIZ opened at $50.61 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market capitalization of $421.08 million, a price-to-earnings ratio of 9.01 and a beta of 0.68. The company’s 50-day simple moving average is $50.93 and its two-hundred day simple moving average is $49.77. First Business Financial Services, Inc. has a one year low of $42.18 and a one year high of $56.46.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, July 24th. The financial services provider reported $1.35 EPS for the quarter, meeting analysts’ consensus estimates of $1.35. The business had revenue of $41.04 million for the quarter, compared to the consensus estimate of $41.55 million. First Business Financial Services had a net margin of 17.59% and a return on equity of 14.22%. Equities analysts forecast that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

Insider Transactions at First Business Financial Services

In other First Business Financial Services news, Director Jason R. Graham bought 1,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were acquired at an average price of $47.87 per share, with a total value of $47,870.00. Following the transaction, the director owned 3,220 shares of the company’s stock, valued at approximately $154,141.40. This trade represents a 45.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ralph R. Kauten bought 10,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were acquired at an average cost of $47.80 per share, for a total transaction of $478,000.00. Following the transaction, the director directly owned 29,756 shares in the company, valued at approximately $1,422,336.80. This trade represents a 50.62% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

FBIZ has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of First Business Financial Services from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a report on Saturday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, First Business Financial Services currently has an average rating of “Buy” and a consensus price target of $59.67.

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.