Jacobs Levy Equity Management Inc. Takes $461,000 Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Jacobs Levy Equity Management Inc. bought a new stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,954 shares of the financial services provider’s stock, valued at approximately $461,000. Jacobs Levy Equity Management Inc. owned about 0.12% of First Business Financial Services at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in shares of First Business Financial Services by 2.1% in the fourth quarter. Hsbc Holdings PLC now owns 14,043 shares of the financial services provider’s stock valued at $655,000 after acquiring an additional 293 shares during the last quarter. BNP Paribas Financial Markets raised its position in First Business Financial Services by 28.9% in the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 490 shares during the last quarter. Martingale Asset Management L P raised its position in First Business Financial Services by 5.2% in the 4th quarter. Martingale Asset Management L P now owns 12,854 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 640 shares during the last quarter. SG Americas Securities LLC raised its position in First Business Financial Services by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 679 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in First Business Financial Services by 28.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 1,021 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FBIZ. Keefe, Bruyette & Woods dropped their price objective on shares of First Business Financial Services from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Piper Sandler boosted their price objective on shares of First Business Financial Services from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Raymond James boosted their price objective on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, May 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, First Business Financial Services presently has a consensus rating of “Buy” and a consensus target price of $57.25.

First Business Financial Services Price Performance

FBIZ opened at $49.38 on Friday. The company has a fifty day moving average price of $47.55 and a two-hundred day moving average price of $48.53. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. First Business Financial Services, Inc. has a 52 week low of $33.10 and a 52 week high of $56.46. The firm has a market capitalization of $410.79 million, a PE ratio of 9.46 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. The firm had revenue of $40.84 million during the quarter, compared to analyst estimates of $40.13 million. As a group, analysts anticipate that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, May 9th. First Business Financial Services’s dividend payout ratio (DPR) is 21.09%.

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.