First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Sold by M3F Inc.

M3F Inc. trimmed its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,152 shares of the financial services provider's stock after selling 57,149 shares during the period. First Business Financial Services comprises 1.3% of M3F Inc.'s holdings, making the stock its 18th largest position. M3F Inc. owned approximately 1.17% of First Business Financial Services worth $4,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. purchased a new position in shares of First Business Financial Services in the 4th quarter valued at about $3,917,000. Hillsdale Investment Management Inc. increased its position in shares of First Business Financial Services by 1,646.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider's stock valued at $2,437,000 after buying an additional 49,628 shares in the last quarter. American Century Companies Inc. raised its stake in shares of First Business Financial Services by 43.5% during the 4th quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider's stock worth $5,184,000 after buying an additional 33,957 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 25,550 shares during the period. Finally, Fourthstone LLC lifted its position in shares of First Business Financial Services by 254.8% during the 4th quarter. Fourthstone LLC now owns 30,239 shares of the financial services provider's stock valued at $1,400,000 after buying an additional 21,715 shares in the last quarter. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the sale, the insider now directly owns 7,718 shares of the company's stock, valued at $421,016.90. This trade represents a 38.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

First Business Financial Services Price Performance

Shares of First Business Financial Services stock traded down $2.74 during trading hours on Friday, reaching $47.20. 24,452 shares of the company's stock were exchanged, compared to its average volume of 23,373. The business has a fifty day moving average of $48.39 and a two-hundred day moving average of $48.00. 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 market capitalization of $391.77 million, a P/E ratio of 9.04 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.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.32 EPS 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 during the quarter, compared to the consensus estimate of $40.13 million. As a group, 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 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 dividend of $0.29 per share. This is an increase from First Business Financial Services's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.46%. First Business Financial Services's dividend payout ratio (DPR) is presently 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.