Alps Advisors Inc. Purchases Shares of 8,800 First Business Financial Services, Inc. $FBIZ

Alps Advisors Inc. purchased a new stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,800 shares of the financial services provider’s stock, valued at approximately $451,000. Alps Advisors Inc. owned about 0.11% of First Business Financial Services at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FBIZ. American Century Companies Inc. grew its position in First Business Financial Services by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 171,490 shares of the financial services provider’s stock worth $8,688,000 after purchasing an additional 25,260 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of First Business Financial Services by 133.1% during the second quarter. Los Angeles Capital Management LLC now owns 13,957 shares of the financial services provider’s stock worth $707,000 after acquiring an additional 7,970 shares in the last quarter. De Lisle Partners LLP grew its position in First Business Financial Services by 18.8% during the 2nd quarter. De Lisle Partners LLP now owns 88,640 shares of the financial services provider’s stock worth $4,487,000 after acquiring an additional 14,000 shares during the last quarter. M3F Inc. grew its stake in shares of First Business Financial Services by 3.1% in the second quarter. M3F Inc. now owns 96,561 shares of the financial services provider’s stock worth $4,892,000 after purchasing an additional 2,943 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of First Business Financial Services by 29.6% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 104,071 shares of the financial services provider’s stock worth $5,272,000 after acquiring an additional 23,800 shares in the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Stock Down 0.6%

Shares of NASDAQ:FBIZ opened at $58.36 on Friday. First Business Financial Services, Inc. has a 1 year low of $42.18 and a 1 year high of $60.53. The firm has a market capitalization of $485.56 million, a PE ratio of 9.81 and a beta of 0.76. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50-day moving average is $56.65 and its two-hundred day moving average is $52.80.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.20. First Business Financial Services had a net margin of 18.02% and a return on equity of 15.05%. The firm had revenue of $42.22 million for the quarter, compared to analysts’ expectations of $43.10 million. Analysts predict that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 28th. Shareholders of record on Saturday, February 14th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 2.3%. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s dividend payout ratio is presently 19.50%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler reissued an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods increased their target price on shares of First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. DA Davidson reaffirmed a “buy” rating and set a $68.00 target price on shares of First Business Financial Services in a research report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $67.00.

First Business Financial Services Company Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.