First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,314 shares of the financial services provider's stock after selling 6,500 shares during the quarter. Alliancebernstein L.P. owned about 1.18% of First Business Financial Services worth $4,551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FBIZ. JPMorgan Chase & Co. increased its position in shares of First Business Financial Services by 307.1% during the third quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider's stock worth $1,115,000 after acquiring an additional 18,458 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in First Business Financial Services by 136.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,398 shares of the financial services provider's stock worth $759,000 after purchasing an additional 9,474 shares during the period. Barclays PLC raised its position in First Business Financial Services by 43.8% during the 3rd quarter. Barclays PLC now owns 27,909 shares of the financial services provider's stock valued at $1,273,000 after purchasing an additional 8,497 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Business Financial Services by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider's stock worth $7,907,000 after buying an additional 2,200 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of First Business Financial Services by 24.8% during the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock valued at $158,000 after buying an additional 679 shares during the period. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on FBIZ shares. StockNews.com raised shares of First Business Financial Services from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Piper Sandler boosted their price objective on shares of First Business Financial Services from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods increased their target price on First Business Financial Services from $58.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Finally, Raymond James boosted their price target on First Business Financial Services from $52.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $58.75.

Insider Activity

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $54.55, for a total transaction of $263,367.40. Following the sale, the insider now owns 7,718 shares in the company, valued at approximately $421,016.90. The trade was a 38.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.10% of the company's stock.

First Business Financial Services Stock Up 1.9 %

FBIZ traded up $0.90 during trading on Friday, hitting $47.36. The stock had a trading volume of 29,201 shares, compared to its average volume of 23,177. First Business Financial Services, Inc. has a twelve month low of $32.86 and a twelve month high of $56.46. The stock has a 50 day simple moving average of $48.78 and a two-hundred day simple moving average of $47.84. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The company has a market capitalization of $393.14 million, a PE ratio of 9.07 and a beta of 0.67.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. On average, research analysts predict that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This is an increase from First Business Financial Services's previous quarterly dividend of $0.25. This represents a $1.16 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, February 14th. First Business Financial Services's payout ratio is presently 22.22%.

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.