Fourthstone LLC Acquires 21,715 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

Fourthstone LLC grew its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 254.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,239 shares of the financial services provider's stock after acquiring an additional 21,715 shares during the period. Fourthstone LLC owned about 0.36% of First Business Financial Services worth $1,400,000 as of its most recent filing with the SEC.

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

Insider Activity at First Business Financial Services

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $54.55, for a total value of $263,367.40. Following the transaction, the insider now owns 7,718 shares of the company's stock, valued at approximately $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by company insiders.

First Business Financial Services Stock Up 3.5 %

Shares of FBIZ traded up $1.62 during trading hours on Tuesday, reaching $48.19. The company's stock had a trading volume of 7,295 shares, compared to its average volume of 23,182. The firm has a market cap of $399.98 million, a price-to-earnings ratio of 9.31 and a beta of 0.67. First Business Financial Services, Inc. has a 1-year low of $33.00 and a 1-year high of $56.46. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $48.63 and a two-hundred day moving average of $47.94.

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 for the quarter, topping the consensus estimate of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. As a group, research analysts predict that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from First Business Financial Services's previous quarterly dividend of $0.25. First Business Financial Services's payout ratio is 22.22%.

Analyst Ratings Changes

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

First Business Financial Services Company Profile

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.