Vanguard Group Inc. Increases Stock Position in First Business Financial Services, Inc. $FBIZ

Key Points

• Vanguard Group Inc. increased its holdings in First Business Financial Services by 12.3%, acquiring 49,254 shares, bringing its total to 449,280 shares, valued at approximately $21.18 million.
• First Business Financial Services announced a quarterly dividend of $0.29 per share, with a dividend yield of 2.2% and a payout ratio of 20.64%.
• Equities analysts have a positive outlook for First Business Financial Services, with an average rating of "Buy" and a price target of $59.67 based on recent upgrades and reports.

Vanguard Group Inc. increased its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,280 shares of the financial services provider's stock after buying an additional 49,254 shares during the period. Vanguard Group Inc. owned about 5.40% of First Business Financial Services worth $21,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. De Lisle Partners LLP boosted its stake in First Business Financial Services by 5.3% during the 1st quarter. De Lisle Partners LLP now owns 74,640 shares of the financial services provider's stock worth $3,517,000 after purchasing an additional 3,774 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of First Business Financial Services by 0.6% in the 1st quarter. Federated Hermes Inc. now owns 70,279 shares of the financial services provider's stock worth $3,314,000 after acquiring an additional 401 shares during the last quarter. First Business Financial Services Inc. lifted its stake in First Business Financial Services by 4.7% during the first quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider's stock worth $18,569,000 after purchasing an additional 17,731 shares in the last quarter. CWM LLC boosted its holdings 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 acquiring an additional 299 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Business Financial Services by 8.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,226 shares of the financial services provider's stock valued at $624,000 after purchasing an additional 1,047 shares during the period. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FBIZ. 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 research report on Tuesday, July 29th. Wall Street Zen raised First Business Financial Services from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, First Business Financial Services currently has a consensus rating of "Buy" and a consensus price target of $59.67.

First Business Financial Services Stock Up 1.2%

Shares of NASDAQ:FBIZ traded up $0.61 on Thursday, hitting $52.32. 18,061 shares of the company's stock were exchanged, compared to its average volume of 29,448. First Business Financial Services, Inc. has a 1-year low of $41.31 and a 1-year high of $56.46. The company has a market capitalization of $435.30 million, a PE ratio of 9.31 and a beta of 0.72. 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 firm's 50-day moving average is $51.03 and its 200 day moving average is $49.30.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its 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 firm had revenue of $41.04 million during the quarter, compared to analysts' expectations of $41.55 million. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. Sell-side analysts predict that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a $0.29 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.2%. First Business Financial Services's dividend payout ratio is presently 20.64%.

Insiders Place Their Bets

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

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.