LSV Asset Management raised its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ – Free Report) by 7.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 134,127 shares of the financial services provider’s stock after acquiring an additional 9,738 shares during the period. LSV Asset Management’s holdings in First Business Financial Services were worth $7,283,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of First Business Financial Services by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock valued at $222,000 after buying an additional 234 shares during the period. Franklin Resources Inc. lifted its stake in shares of First Business Financial Services by 1.1% in the 3rd quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 239 shares during the period. Uncommon Cents Investing LLC lifted its stake in shares of First Business Financial Services by 0.8% in the 4th quarter. Uncommon Cents Investing LLC now owns 34,743 shares of the financial services provider’s stock valued at $1,887,000 after purchasing an additional 265 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of First Business Financial Services by 2.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,635 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 298 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of First Business Financial Services by 6.6% in the 2nd quarter. First Trust Advisors LP now owns 5,309 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 60.07% of the company’s stock.
First Business Financial Services Stock Up 1.0%
FBIZ stock opened at $57.66 on Wednesday. The stock’s 50 day simple moving average is $55.83 and its 200 day simple moving average is $55.43. First Business Financial Services, Inc. has a fifty-two week low of $45.90 and a fifty-two week high of $60.53. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market cap of $482.04 million, a P/E ratio of 9.50 and a beta of 0.68.
First Business Financial Services Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th were paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 6th. First Business Financial Services’s dividend payout ratio is 22.41%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. DA Davidson reissued a “buy” rating and issued a $65.00 price objective on shares of First Business Financial Services in a research note on Monday, April 27th. Raymond James Financial set a $64.00 price objective on First Business Financial Services in a research note on Monday, April 27th. Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, May 18th. Keefe, Bruyette & Woods boosted their price objective on 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $65.50.
Get Our Latest Stock Report on First Business Financial Services
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.
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