JPMorgan Chase & Co. Increases Stock Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

JPMorgan Chase & Co. lifted its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 104.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,018 shares of the financial services provider's stock after buying an additional 25,550 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.60% of First Business Financial Services worth $2,315,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FBIZ. R Squared Ltd purchased a new stake in First Business Financial Services during the 4th quarter valued at about $49,000. SG Americas Securities LLC grew its position in First Business Financial Services by 24.8% during 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position 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 purchasing an additional 9,474 shares during the last quarter. US Bancorp DE grew its position 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 valued at $830,000 after purchasing an additional 14,125 shares during the last quarter. Finally, Barclays PLC grew 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 during the last quarter. 60.07% of the stock is owned by hedge funds and other institutional investors.

First Business Financial Services Stock Performance

Shares of FBIZ stock traded up $0.81 during mid-day trading on Tuesday, reaching $48.50. 19,900 shares of the company's stock traded hands, compared to its average volume of 23,529. First Business Financial Services, Inc. has a 12 month low of $33.00 and a 12 month high of $56.46. The firm has a 50 day moving average price of $48.04 and a two-hundred day moving average price of $48.15. 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 firm has a market capitalization of $402.60 million, a PE ratio of 9.29 and a beta of 0.67.

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

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, May 9th. First Business Financial Services's dividend payout ratio (DPR) is 21.09%.

Insider Activity at First Business Financial Services

In related news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction on Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 5.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FBIZ has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday. Piper Sandler lifted their target price on shares of First Business Financial Services from $57.00 to $58.00 and gave the stock an "overweight" rating in a research report on Monday. 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 report on Monday, February 3rd. Finally, StockNews.com downgraded shares of First Business Financial Services from a "buy" rating to a "hold" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, First Business Financial Services has an average rating of "Moderate Buy" and a consensus price target of $57.25.

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.