Jacobs Levy Equity Management Inc. Reduces Stock Position in First Business Financial Services, Inc. $FBIZ

Jacobs Levy Equity Management Inc. decreased its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 14.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,538 shares of the financial services provider’s stock after selling 1,416 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.10% of First Business Financial Services worth $403,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. CWM LLC grew its position in First Business Financial Services by 48.7% in the first quarter. CWM LLC now owns 913 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 299 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of First Business Financial Services during the fourth quarter worth about $81,000. Virtus Investment Advisers Inc. acquired a new stake in shares of First Business Financial Services during the fourth quarter worth about $95,000. BNP Paribas Financial Markets increased its position in First Business Financial Services by 28.9% in the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 490 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in First Business Financial Services in the 1st quarter valued at about $122,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their target price on First Business Financial Services from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $59.67.

First Business Financial Services Stock Performance

Shares of FBIZ stock opened at $51.79 on Friday. First Business Financial Services, Inc. has a 52 week low of $41.47 and a 52 week high of $56.46. The company has a market cap of $430.89 million, a P/E ratio of 9.22 and a beta of 0.72. The business has a 50 day moving average of $50.94 and a two-hundred day moving average of $49.26. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. First Business Financial Services had a net margin of 17.59% and a return on equity of 14.22%. The firm had revenue of $41.04 million for the quarter, compared to analyst estimates of $41.55 million. As a group, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 11th. First Business Financial Services’s dividend payout ratio is currently 20.64%.

Insider Activity

In other First Business Financial Services news, Director Ralph R. Kauten purchased 10,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $47.80 per share, for a total transaction of $478,000.00. Following the purchase, the director owned 29,756 shares of the company’s stock, valued at approximately $1,422,336.80. This represents a 50.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jason R. Graham bought 1,000 shares of First Business Financial Services stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $47.87 per share, with a total value of $47,870.00. Following the acquisition, the director directly owned 3,220 shares in the company, valued at $154,141.40. This trade represents a 45.05% increase in their position. The disclosure for this purchase can be found here. Insiders own 5.10% of the company’s stock.

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.