Ameriprise Financial Inc. Increases Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Ameriprise Financial Inc. boosted its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 146.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,990 shares of the financial services provider's stock after buying an additional 16,048 shares during the period. Ameriprise Financial Inc. owned about 0.33% of First Business Financial Services worth $1,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FBIZ. R Squared Ltd acquired a new position in First Business Financial Services in the fourth quarter worth approximately $49,000. SG Americas Securities LLC boosted its position in shares of First Business Financial Services by 24.8% in the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock valued at $158,000 after acquiring an additional 679 shares during the period. Wells Fargo & Company MN raised its stake in shares of First Business Financial Services by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider's stock valued at $212,000 after purchasing an additional 1,021 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of First Business Financial Services in the fourth quarter valued at $232,000. Finally, PDT Partners LLC acquired a new position in shares of First Business Financial Services in the fourth quarter valued at $267,000. Institutional investors and hedge funds own 60.07% of the company's stock.

Analysts Set New Price Targets

FBIZ has been the subject of several recent analyst reports. Raymond James increased their price objective on First Business Financial Services from $52.00 to $62.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Wall Street Zen upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods cut their price objective on First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Piper Sandler lifted their target price on First Business Financial Services from $57.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $57.25.

First Business Financial Services Price Performance

Shares of First Business Financial Services stock traded down $0.76 during trading on Monday, reaching $48.01. 54,644 shares of the company's stock were exchanged, compared to its average volume of 25,594. 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 1-year low of $33.10 and a 1-year high of $56.46. The company has a market cap of $399.40 million, a P/E ratio of 9.20 and a beta of 0.66. The firm's 50-day moving average price is $47.68 and its 200 day moving average price is $48.61.

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

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, May 9th. First Business Financial Services's dividend payout ratio is currently 21.09%.

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.