Franklin Resources Inc. Has $2.68 Million Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Franklin Resources Inc. lessened its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 35.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,829 shares of the financial services provider's stock after selling 31,237 shares during the quarter. Franklin Resources Inc. owned approximately 0.70% of First Business Financial Services worth $2,677,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of FBIZ. JPMorgan Chase & Co. grew its position in shares of First Business Financial Services by 307.1% in the 3rd 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in First Business Financial Services by 136.8% during the fourth 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 last quarter. Barclays PLC boosted its holdings in First Business Financial Services by 43.8% in 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 increased its stake in First Business Financial Services by 1.3% during 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 purchasing an additional 2,200 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings 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 worth $158,000 after purchasing an additional 679 shares during the period. Institutional investors own 60.07% of the company's stock.

Insider Buying and Selling at First Business Financial Services

In other news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services 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 completion of the sale, the insider now directly owns 7,718 shares in the company, valued at $421,016.90. The trade was a 38.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.10% of the company's stock.

Analyst Ratings Changes

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

First Business Financial Services Stock Performance

Shares of NASDAQ FBIZ traded up $0.90 during midday trading on Friday, hitting $47.36. 29,201 shares of the company's stock were exchanged, compared to its average volume of 23,129. First Business Financial Services, Inc. has a twelve month low of $32.56 and a twelve month high of $56.46. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market cap of $393.14 million, a P/E ratio of 9.07 and a beta of 0.67. The stock's 50 day moving average price is $48.94 and its 200-day moving average price is $47.82.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $1.43 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%. Equities research analysts anticipate that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.45%. This is a positive change from First Business Financial Services's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. First Business Financial Services's dividend payout ratio (DPR) is currently 22.22%.

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.