GSA Capital Partners LLP Boosts Position in First Business Financial Services, Inc. $FBIZ

Key Points

• GSA Capital Partners LLP increased its stake in First Business Financial Services by 149.1% in the fourth quarter, bringing its holdings to 30,210 shares valued at about $1.64 million.
• Analyst sentiment remains positive, with several firms reiterating Buy/Outperform ratings and an average price target of $65.50, above the stock’s recent trading level.
• The company reported solid quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $0.34 per share for a 2.5% annualized yield.

GSA Capital Partners LLP grew its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 149.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,210 shares of the financial services provider's stock after buying an additional 18,083 shares during the quarter. GSA Capital Partners LLP owned approximately 0.36% of First Business Financial Services worth $1,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its position in First Business Financial Services by 163.2% in the third quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider's stock worth $30,000 after buying an additional 364 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in First Business Financial Services in the third quarter worth about $33,000. State of Alaska Department of Revenue increased its position in First Business Financial Services by 174.2% in the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider's stock worth $48,000 after buying an additional 575 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in First Business Financial Services by 32,175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider's stock worth $65,000 after buying an additional 1,287 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in First Business Financial Services by 356.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider's stock worth $96,000 after buying an additional 1,476 shares in the last quarter. Hedge funds and other institutional investors own 60.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. DA Davidson restated a "buy" rating and issued a $65.00 price target on shares of First Business Financial Services in a research report on Monday, April 27th. Piper Sandler restated an "overweight" rating and issued a $70.00 price target (up from $61.00) on shares of First Business Financial Services in a research report on Tuesday, February 3rd. Weiss Ratings upgraded First Business Financial Services from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, May 4th. Raymond James Financial set a $64.00 price target on First Business Financial Services in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods increased their target price on First Business Financial Services from $59.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $65.50.

First Business Financial Services Stock Performance

NASDAQ:FBIZ opened at $55.39 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. First Business Financial Services, Inc. has a 12-month low of $45.90 and a 12-month high of $60.53. The stock has a 50-day moving average price of $55.37 and a 200 day moving average price of $55.20. The stock has a market capitalization of $463.06 million, a P/E ratio of 9.13 and a beta of 0.68.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its earnings results on Thursday, April 23rd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.02. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The firm had revenue of $44.29 million during the quarter, compared to analysts' expectations of $43.40 million. Equities research analysts forecast that First Business Financial Services, Inc. will post 6.21 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, May 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.5%. First Business Financial Services's dividend payout ratio (DPR) is currently 22.41%.

First Business Financial Services Company Profile

First Business Financial Services, Inc NASDAQ: FBIZ is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.

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