Invesco Ltd. Has $2.72 Million Stock Holdings in First Business Financial Services, Inc. $FBIZ

Key Points

• Invesco Ltd. decreased its stake in First Business Financial Services by 31.7%, now holding approximately 0.69% of the company, valued at $2,724,000.
• The company recently announced a quarterly dividend of $0.29 per share, representing a yield of 2.2% and a dividend payout ratio of 20.64%.
• First Business Financial Services achieved an earnings per share (EPS) of $1.35, matching analysts' expectations, alongside reporting a revenue of $41.04 million for the quarter.

Invesco Ltd. lessened its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 31.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,769 shares of the financial services provider's stock after selling 26,853 shares during the quarter. Invesco Ltd. owned 0.69% of First Business Financial Services worth $2,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of First Business Financial Services by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,477 shares of the financial services provider's stock valued at $207,000 after purchasing an additional 206 shares in the last quarter. Hsbc Holdings PLC lifted its position in First Business Financial Services by 2.1% during the 4th quarter. Hsbc Holdings PLC now owns 14,043 shares of the financial services provider's stock valued at $655,000 after purchasing an additional 293 shares during the period. CWM LLC lifted its position in First Business Financial Services by 48.7% during the 1st quarter. CWM LLC now owns 913 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 299 shares during the period. Federated Hermes Inc. lifted its position in First Business Financial Services by 0.6% during the 1st quarter. Federated Hermes Inc. now owns 70,279 shares of the financial services provider's stock valued at $3,314,000 after purchasing an additional 401 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in First Business Financial Services by 28.9% during the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider's stock valued at $101,000 after purchasing an additional 490 shares during the period. Institutional investors own 60.07% of the company's stock.

Insider Activity at First Business Financial Services

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

First Business Financial Services Stock Up 1.2%

NASDAQ FBIZ traded up $0.61 during trading hours on Thursday, reaching $52.32. 18,061 shares of the company's stock were exchanged, compared to its average volume of 29,448. The company's 50-day moving average is $51.03 and its two-hundred day moving average is $49.30. First Business Financial Services, Inc. has a one year low of $41.31 and a one year high of $56.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.03 and a current ratio of 1.04. The company has a market capitalization of $435.30 million, a price-to-earnings ratio of 9.31 and a beta of 0.72.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. The company had revenue of $41.04 million during 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, analysts forecast that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

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

Analyst Ratings Changes

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