Invesco Ltd. Acquires New Stake in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Invesco Ltd. bought a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 84,622 shares of the financial services provider's stock, valued at approximately $3,917,000. Invesco Ltd. owned about 1.02% of First Business Financial Services as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Hillsdale Investment Management Inc. increased its position in First Business Financial Services by 1,646.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider's stock valued at $2,437,000 after acquiring an additional 49,628 shares during the period. American Century Companies Inc. increased its holdings in First Business Financial Services by 43.5% in the fourth quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider's stock valued at $5,184,000 after purchasing an additional 33,957 shares during the period. JPMorgan Chase & Co. raised its position in First Business Financial Services by 104.4% during the 4th quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider's stock worth $2,315,000 after purchasing an additional 25,550 shares during the last quarter. US Bancorp DE lifted its holdings in First Business Financial Services by 371.7% during the 4th quarter. US Bancorp DE now owns 17,925 shares of the financial services provider's stock worth $830,000 after buying an additional 14,125 shares during the period. Finally, First Business Financial Services Inc. grew its position in shares of First Business Financial Services by 2.8% in the 4th quarter. First Business Financial Services Inc. now owns 376,088 shares of the financial services provider's stock valued at $17,409,000 after buying an additional 10,176 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

First Business Financial Services Stock Up 2.7 %

Shares of NASDAQ FBIZ traded up $1.28 during trading on Friday, hitting $49.14. 1,006 shares of the company traded hands, compared to its average volume of 23,445. The firm has a market capitalization of $408.80 million, a price-to-earnings ratio of 9.43 and a beta of 0.66. The business's fifty day moving average is $47.89 and its 200 day moving average is $48.18. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. First Business Financial Services, Inc. has a fifty-two week low of $33.10 and a fifty-two week high of $56.46.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. The business had revenue of $40.84 million for the quarter, compared to analyst estimates of $40.13 million. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. Equities research analysts predict that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, May 9th. This represents a $1.16 annualized dividend and a yield of 2.36%. First Business Financial Services's dividend payout ratio (DPR) is currently 21.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday. StockNews.com downgraded shares of First Business Financial Services from a "buy" rating to a "hold" rating in a research report on Tuesday. Piper Sandler upped their price objective on shares of First Business Financial Services from $57.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Raymond James lifted their target price 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.25.

Insider Activity 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 shares were sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the transaction, the insider now owns 7,718 shares in the company, valued at $421,016.90. This trade represents a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is currently owned by insiders.

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.