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

JPMorgan Chase & Co. raised its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 104.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,018 shares of the financial services provider’s stock after acquiring an additional 25,550 shares during the period. JPMorgan Chase & Co. owned 0.60% of First Business Financial Services worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in FBIZ. First Business Financial Services Inc. boosted 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 purchasing an additional 10,176 shares during the period. Geode Capital Management LLC lifted its stake in First Business Financial Services by 1.3% in 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 buying an additional 2,200 shares during the last quarter. State Street Corp lifted its stake in First Business Financial Services by 1.9% in the third quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock valued at $6,232,000 after buying an additional 2,607 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of 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 acquiring an additional 33,957 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in shares of First Business Financial Services by 1,646.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider’s stock worth $2,437,000 after acquiring an additional 49,628 shares during the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on FBIZ shares. Raymond James upped 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 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 report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Piper Sandler upped their price objective on First Business Financial Services from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $58.75.

First Business Financial Services Stock Up 0.0 %

Shares of First Business Financial Services stock opened at $48.66 on Thursday. The company has a market cap of $403.93 million, a P/E ratio of 9.32 and a beta of 0.67. The firm has a fifty day moving average of $48.45 and a two-hundred day moving average of $47.95. 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 one year low of $33.00 and a one year high of $56.46.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. On average, analysts forecast that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.25. First Business Financial Services’s dividend payout ratio is currently 22.22%.

Insiders Place Their Bets

In related news, insider Daniel Ovokaitys sold 4,828 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the sale, the insider now owns 7,718 shares of the company’s stock, valued at approximately $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.10% of the stock is currently owned by company insiders.

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.