Nuveen LLC Takes $1.09 Million Position in First Business Financial Services, Inc. $FBIZ

Nuveen LLC purchased a new stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 23,004 shares of the financial services provider's stock, valued at approximately $1,085,000. Nuveen LLC owned about 0.28% of First Business Financial Services at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FBIZ. Vanguard Group Inc. lifted its position in First Business Financial Services by 12.3% in the first quarter. Vanguard Group Inc. now owns 449,280 shares of the financial services provider's stock valued at $21,184,000 after buying an additional 49,254 shares during the last quarter. First Business Financial Services Inc. lifted its position in First Business Financial Services by 4.7% in the first quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider's stock valued at $18,569,000 after buying an additional 17,731 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in First Business Financial Services by 2.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 90,421 shares of the financial services provider's stock valued at $4,186,000 after buying an additional 2,156 shares during the last quarter. De Lisle Partners LLP lifted its position in First Business Financial Services by 5.3% in the first quarter. De Lisle Partners LLP now owns 74,640 shares of the financial services provider's stock valued at $3,517,000 after buying an additional 3,774 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of First Business Financial Services by 0.6% during the first quarter. Federated Hermes Inc. now owns 70,279 shares of the financial services provider's stock worth $3,314,000 after purchasing an additional 401 shares in the last quarter. Institutional investors and hedge funds own 60.07% of the company's stock.

First Business Financial Services Stock Down 0.6%

NASDAQ:FBIZ traded down $0.31 during mid-day trading on Friday, hitting $52.01. The stock had a trading volume of 26,454 shares, compared to its average volume of 28,491. The stock has a 50-day simple moving average of $51.05 and a two-hundred day simple moving average of $49.25. The company has a market capitalization of $432.72 million, a PE ratio of 9.25 and a beta of 0.72. First Business Financial Services, Inc. has a twelve month low of $41.31 and a twelve month high of $56.46. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.83.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share for the quarter, meeting the consensus estimate of $1.35. The firm had revenue of $41.04 million for the quarter, compared to analysts' expectations of $41.55 million. First Business Financial Services had a net margin of 17.59% and a return on equity of 14.22%. On average, equities research analysts anticipate that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.16 dividend on an annualized basis and a yield of 2.2%. First Business Financial Services's dividend payout ratio (DPR) is presently 20.64%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Separately, Piper Sandler increased their price target on shares of First Business Financial Services from $55.00 to $58.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $59.67.

First Business Financial Services Profile

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.