Empowered Funds LLC Takes Position in First Business Financial Services, Inc. $FBIZ

Empowered Funds LLC acquired a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 45,157 shares of the financial services provider’s stock, valued at approximately $2,853,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FBIZ. Northwestern Mutual Wealth Management Co. purchased a new position in First Business Financial Services in the third quarter valued at $33,000. Legal & General Group Plc acquired a new stake in First Business Financial Services in the second quarter valued at $51,000. EverSource Wealth Advisors LLC lifted its holdings in First Business Financial Services by 32,175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock worth $65,000 after buying an additional 1,287 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in First Business Financial Services by 356.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after buying an additional 1,476 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new position in shares of First Business Financial Services during the 3rd quarter worth about $109,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Stock Up 2.9%

Shares of NASDAQ FBIZ opened at $71.85 on Thursday. The business has a 50-day moving average price of $67.66 and a 200 day moving average price of $60.38. The stock has a market cap of $601.38 million, a PE ratio of 10.95 and a beta of 0.65. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90. First Business Financial Services, Inc. has a 52-week low of $46.07 and a 52-week high of $73.48.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, topping the consensus estimate 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 company had revenue of $46.71 million for the quarter, compared to analyst estimates of $45.42 million. Equities research analysts forecast that First Business Financial Services, Inc. will post 6.56 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, August 12th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. First Business Financial Services’s dividend payout ratio (DPR) is 20.73%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. Finally, DA Davidson set a $80.00 price target on shares of First Business Financial Services and gave the company a “buy” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, First Business Financial Services currently has an average rating of “Buy” and an average price target of $75.50.

Insider Activity at First Business Financial Services

In other news, insider Jodi A. Chandler sold 675 shares of First Business Financial Services stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $70.19, for a total value of $47,378.25. Following the transaction, the insider directly owned 22,550 shares of the company’s stock, valued at $1,582,784.50. The trade was a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.00% of the stock is owned by insiders.

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.