First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,070 shares of the financial services provider’s stock after buying an additional 7,499 shares during the quarter. Vanguard Group Inc. owned 4.36% of First Business Financial Services worth $13,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised 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 valued at $2,626,000 after purchasing an additional 2,444 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of First Business Financial Services by 7.8% during the first quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock worth $1,541,000 after buying an additional 2,975 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,659 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of First Business Financial Services by 70.7% in the 4th quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 1,601 shares during the period. Finally, Vista Investment Management raised its stake in First Business Financial Services by 0.6% in the 4th quarter. Vista Investment Management now owns 52,410 shares of the financial services provider’s stock worth $2,102,000 after acquiring an additional 301 shares during the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Stock Up 1.2 %

Shares of FBIZ stock opened at $40.39 on Wednesday. First Business Financial Services, Inc. has a twelve month low of $28.35 and a twelve month high of $47.23. The stock has a market cap of $334.79 million, a P/E ratio of 9.31 and a beta of 0.83. The stock has a 50 day moving average of $38.21 and a 200 day moving average of $35.99. The company has a current ratio of 1.08, a quick ratio of 1.09 and a debt-to-equity ratio of 1.12.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.14. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The firm had revenue of $65.34 million during the quarter, compared to analyst estimates of $36.73 million. As a group, sell-side analysts expect that First Business Financial Services, Inc. will post 4.61 EPS for the current year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, August 8th. First Business Financial Services’s payout ratio is currently 23.04%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FBIZ. StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $51.00 price target (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $50.00 in a research note on Monday, August 5th. Finally, Piper Sandler increased their price objective on shares of First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $50.75.

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.