American Century Companies Inc. Boosts Stake in First Business Financial Services, Inc. $FBIZ

Key Points

• American Century Companies Inc. increased its stake in First Business Financial Services by 30.6% during the first quarter, bringing its total holdings to 146,230 shares valued at approximately $6.9 million.
• First Business Financial Services announced a quarterly dividend of $0.29 per share, resulting in an annual yield of 2.2%, with a payout ratio of 20.64%.
• Research analysts have shown optimism for FBIZ, with Piper Sandler raising its target price to $58 and a consensus rating indicating it is a Buy stock.

American Century Companies Inc. raised its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 30.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 146,230 shares of the financial services provider's stock after acquiring an additional 34,250 shares during the period. American Century Companies Inc. owned 1.76% of First Business Financial Services worth $6,895,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FBIZ. Vanguard Group Inc. raised its holdings in First Business Financial Services by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 449,280 shares of the financial services provider's stock valued at $21,184,000 after acquiring an additional 49,254 shares during the last quarter. Nuveen LLC acquired a new position in First Business Financial Services in the 1st quarter valued at $1,085,000. First Business Financial Services Inc. raised its holdings in First Business Financial Services by 4.7% in the 1st quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider's stock valued at $18,569,000 after acquiring an additional 17,731 shares during the last quarter. Informed Momentum Co LLC acquired a new position in First Business Financial Services in the 1st quarter valued at $831,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of First Business Financial Services by 146.7% during the 4th quarter. Ameriprise Financial Inc. now owns 26,990 shares of the financial services provider's stock worth $1,249,000 after buying an additional 16,048 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

First Business Financial Services Trading Down 1.0%

Shares of FBIZ stock traded down $0.52 on Tuesday, reaching $51.80. 30,968 shares of the stock were exchanged, compared to its average volume of 30,024. The firm has a 50 day moving average of $50.95 and a two-hundred day moving average of $49.28. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.83. First Business Financial Services, Inc. has a 1-year low of $41.31 and a 1-year high of $56.46. The stock has a market cap of $430.98 million, a P/E ratio of 9.22 and a beta of 0.72.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share for the quarter, hitting analysts' consensus estimates of $1.35. First Business Financial Services had a net margin of 17.59% and a return on equity of 14.22%. The firm had revenue of $41.04 million during the quarter, compared to analysts' expectations of $41.55 million. On average, 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 firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 11th. First Business Financial Services's dividend payout ratio is 20.64%.

Insiders Place Their Bets

In other First Business Financial Services news, Director Jason R. Graham purchased 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $47.87 per share, with a total value of $47,870.00. Following the transaction, the director owned 3,220 shares in the company, valued at approximately $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 purchased 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $47.80 per share, with a total value of $478,000.00. Following the completion of the transaction, the director owned 29,756 shares in the company, valued at $1,422,336.80. This trade 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 corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FBIZ shares. Wall Street Zen upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Piper Sandler upped their price objective on First Business Financial Services from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $59.67.

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.