LSV Asset Management Sells 11,000 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

LSV Asset Management lessened its position in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,225 shares of the financial services provider's stock after selling 11,000 shares during the quarter. LSV Asset Management owned about 1.14% of First Business Financial Services worth $4,362,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FBIZ. Martingale Asset Management L P lifted its position in shares of First Business Financial Services by 5.2% during the 4th quarter. Martingale Asset Management L P now owns 12,854 shares of the financial services provider's stock worth $595,000 after purchasing an additional 640 shares during the last quarter. SG Americas Securities LLC increased its position 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 worth $158,000 after buying an additional 679 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of First Business Financial Services by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider's stock worth $212,000 after buying an additional 1,021 shares during the last quarter. R Squared Ltd bought a new stake in shares of First Business Financial Services in the fourth quarter valued at approximately $49,000. Finally, Bank of New York Mellon Corp grew its stake in shares of First Business Financial Services by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 33,109 shares of the financial services provider's stock worth $1,533,000 after acquiring an additional 1,653 shares during the last quarter. Institutional investors and hedge funds own 60.07% of the company's stock.

Wall Street Analysts Forecast Growth

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

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ traded up $0.90 during midday trading on Friday, reaching $47.36. The company's stock had a trading volume of 29,201 shares, compared to its average volume of 23,177. The business's fifty day simple moving average is $48.78 and its 200-day simple moving average is $47.84. The company has a market capitalization of $393.14 million, a P/E ratio of 9.07 and a beta of 0.67. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. First Business Financial Services, Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $56.46.

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, 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%. As a group, equities research analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a 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 presently 22.22%.

Insider Activity

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.10% of the company's stock.

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.