First Business Financial Services, Inc. $FBIZ Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 46.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,974 shares of the financial services provider’s stock after selling 19,248 shares during the quarter. Franklin Resources Inc. owned 0.26% of First Business Financial Services worth $1,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of First Business Financial Services by 72.9% during the second quarter. CWM LLC now owns 1,579 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 666 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in First Business Financial Services by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,883 shares of the financial services provider’s stock worth $146,000 after buying an additional 288 shares during the period. Jump Financial LLC purchased a new stake in First Business Financial Services during the first quarter valued at about $203,000. Atlatl Advisers LLC acquired a new position in shares of First Business Financial Services in the second quarter worth about $208,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Business Financial Services by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 234 shares in the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FBIZ has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of First Business Financial Services in a research report on Wednesday, October 8th. Piper Sandler increased their target price on First Business Financial Services from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $60.67.

First Business Financial Services Stock Down 0.8%

FBIZ stock opened at $53.92 on Friday. The company has a 50 day moving average of $50.95 and a two-hundred day moving average of $50.54. The company has a market cap of $448.61 million, a price-to-earnings ratio of 8.87 and a beta of 0.74. First Business Financial Services, Inc. has a 12-month low of $42.18 and a 12-month high of $56.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.77.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.31. First Business Financial Services had a net margin of 18.55% and a return on equity of 14.89%. The business had revenue of $44.29 million for the quarter, compared to the consensus estimate of $42.30 million. On average, equities analysts anticipate that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.2%. First Business Financial Services’s dividend payout ratio (DPR) is 19.08%.

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.