Daytona Street Capital LLC Buys New Holdings in First Business Financial Services, Inc. $FBIZ

Daytona Street Capital LLC acquired a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,790 shares of the financial services provider’s stock, valued at approximately $1,672,000. First Business Financial Services makes up approximately 1.1% of Daytona Street Capital LLC’s portfolio, making the stock its 27th biggest holding. Daytona Street Capital LLC owned 0.37% of First Business Financial Services as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FBIZ. Versant Capital Management Inc raised its stake in First Business Financial Services by 163.2% during the third quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 364 shares in the last quarter. Hollencrest Capital Management raised its stake in First Business Financial Services by 198.0% during the second quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 406 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in First Business Financial Services during the third quarter worth $33,000. EverSource Wealth Advisors LLC raised its stake in First Business Financial Services by 32,175.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,287 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in First Business Financial Services by 356.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,476 shares in the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FBIZ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Piper Sandler reiterated an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a research note on Tuesday, February 3rd. DA Davidson reiterated a “buy” rating and set a $68.00 price objective on shares of First Business Financial Services in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $67.00.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ opened at $55.96 on Tuesday. First Business Financial Services, Inc. has a twelve month low of $42.75 and a twelve month high of $60.53. The firm has a market cap of $466.71 million, a PE ratio of 9.41 and a beta of 0.72. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.03. The business has a fifty day moving average of $55.50 and a 200-day moving average of $53.86.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. First Business Financial Services had a return on equity of 14.77% and a net margin of 18.02%.The company had revenue of $42.22 million during the quarter, compared to analyst estimates of $43.10 million. On average, equities research analysts predict that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 13th. First Business Financial Services’s dividend payout ratio is 22.86%.

First Business Financial Services 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.