Hillsdale Investment Management Inc. Has $4.30 Million Stock Holdings in First Business Financial Services, Inc. $FBIZ

Hillsdale Investment Management Inc. trimmed its position in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 19.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,971 shares of the financial services provider’s stock after selling 20,100 shares during the quarter. Hillsdale Investment Management Inc. owned 1.01% of First Business Financial Services worth $4,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of First Business Financial Services by 3.3% in the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 431 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of First Business Financial Services by 104.5% during the 1st quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider’s stock worth $454,000 after buying an additional 4,924 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 valued at $222,000 after buying an additional 234 shares in the last quarter. CWM LLC boosted its stake in First Business Financial Services by 72.9% in the second quarter. CWM LLC now owns 1,579 shares of the financial services provider’s stock valued at $80,000 after buying an additional 666 shares in the last quarter. Finally, R Squared Ltd bought a new position in First Business Financial Services in the second quarter valued at about $275,000. 60.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

First Business Financial Services Stock Up 1.5%

Shares of NASDAQ FBIZ opened at $57.86 on Monday. The company has a 50 day simple moving average of $56.84 and a 200 day simple moving average of $53.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03. 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 cap of $481.40 million, a PE ratio of 9.72 and a beta of 0.76.

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

First Business Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.36 annualized dividend and a yield of 2.4%. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s dividend payout ratio is 22.86%.

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.