GSA Capital Partners LLP Makes New Investment in First Business Financial Services, Inc. $FBIZ

Key Points

• GSA Capital Partners LLP acquired 19,167 shares of First Business Financial Services during the second quarter, worth approximately $1.21 million and representing a 0.23% stake. Overall, institutional investors own 60.07% of FBIZ.
• Analysts remain broadly positive, with the stock carrying a “Buy” consensus rating and an average price target of $75.50; Piper Sandler and Keefe, Bruyette & Woods recently raised their targets to $84 and $74, respectively.
• First Business Financial Services exceeded quarterly expectations, reporting $1.84 in EPS versus the $1.56 consensus and revenue of $46.71 million. The company also declared a $0.34 quarterly dividend, equivalent to a 1.9% yield.

GSA Capital Partners LLP acquired a new stake in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,167 shares of the financial services provider's stock, valued at approximately $1,211,000. GSA Capital Partners LLP owned 0.23% of First Business Financial Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of First Business Financial Services by 6.8% during the third quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider's stock worth $24,691,000 after buying an additional 30,499 shares during the period. Geode Capital Management LLC increased its position in First Business Financial Services by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 235,050 shares of the financial services provider's stock valued at $12,765,000 after acquiring an additional 6,347 shares during the period. LSV Asset Management increased its position in First Business Financial Services by 7.8% in the 4th quarter. LSV Asset Management now owns 134,127 shares of the financial services provider's stock valued at $7,283,000 after acquiring an additional 9,738 shares during the period. AQR Capital Management LLC raised its stake in First Business Financial Services by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 105,951 shares of the financial services provider's stock valued at $5,753,000 after acquiring an additional 22,334 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in First Business Financial Services by 45.8% during the 4th quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider's stock worth $5,689,000 after acquiring an additional 32,899 shares during the period. 60.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FBIZ has been the topic of several analyst reports. Raymond James Financial set a $64.00 target price on First Business Financial Services in a research note on Monday, April 27th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. DA Davidson set a $80.00 price target on First Business Financial Services and gave the stock a "buy" rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of First Business Financial Services from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 15th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $75.50.

First Business Financial Services Trading Down 0.7%

NASDAQ FBIZ opened at $70.95 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $593.85 million, a P/E ratio of 10.82 and a beta of 0.65. First Business Financial Services, Inc. has a 52-week low of $46.07 and a 52-week high of $73.48. The firm has a 50-day moving average price of $65.35 and a 200 day moving average price of $59.42.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.28. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%.The company had revenue of $46.71 million for the quarter, compared to analyst estimates of $45.42 million. Equities research analysts expect that First Business Financial Services, Inc. will post 6.56 EPS for the current year.

First Business Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, August 12th. First Business Financial Services's dividend payout ratio (DPR) is currently 20.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source