Wells Fargo & Company MN Raises Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Wells Fargo & Company MN lifted its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 28.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,577 shares of the financial services provider’s stock after purchasing an additional 1,021 shares during the quarter. Wells Fargo & Company MN owned 0.06% of First Business Financial Services worth $212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FBIZ. JPMorgan Chase & Co. grew its position in First Business Financial Services by 307.1% in the third quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock worth $1,115,000 after acquiring an additional 18,458 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of First Business Financial Services by 136.8% in 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. Barclays PLC boosted its holdings in shares of First Business Financial Services by 43.8% in the 3rd quarter. Barclays PLC now owns 27,909 shares of the financial services provider’s stock worth $1,273,000 after purchasing an additional 8,497 shares during the period. US Bancorp DE increased its position in shares of 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, SG Americas Securities LLC raised its holdings 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 buying an additional 679 shares during the period. 60.07% of the stock is owned by hedge funds and other institutional investors.

First Business Financial Services Stock Up 0.9 %

Shares of NASDAQ FBIZ opened at $48.61 on Friday. The stock has a market capitalization of $404.39 million, a PE ratio of 9.31 and a beta of 0.66. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services, Inc. has a 12-month low of $33.10 and a 12-month high of $56.46. The stock’s fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $48.31.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, April 24th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. The company had revenue of $40.84 million during the quarter, compared to the consensus estimate of $40.13 million. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. As a group, analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.39%. The ex-dividend date is Friday, May 9th. First Business Financial Services’s dividend payout ratio is presently 21.09%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FBIZ. Piper Sandler boosted 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 report on Monday, April 28th. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods dropped their target price 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, April 28th. Finally, Raymond James increased their price target on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, First Business Financial Services has a consensus rating of “Buy” and a consensus target price 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.