Vista Investment Management Makes New $3.31 Million Investment in First Business Financial Services, Inc. $FBIZ

Vista Investment Management acquired a new stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) during the second quarter, Holdings Channel reports. The institutional investor acquired 52,349 shares of the financial services provider’s stock, valued at approximately $3,307,000. First Business Financial Services makes up about 1.0% of Vista Investment Management’s holdings, making the stock its 25th biggest holding.

Several other hedge funds have also recently made changes to their positions in FBIZ. Northwestern Mutual Wealth Management Co. purchased a new position in First Business Financial Services in the 3rd quarter worth $33,000. State of Alaska Department of Revenue grew its stake in First Business Financial Services by 174.2% during the 4th quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 575 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in First Business Financial Services by 32,175.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,287 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of First Business Financial Services by 356.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 1,476 shares during the period. Finally, Virtus Advisers LLC acquired a new position in shares of First Business Financial Services in the third quarter valued at about $109,000. 60.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on FBIZ. Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. DA Davidson set a $80.00 price target on shares of First Business Financial Services and gave the stock a “buy” rating in a report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and issued a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Finally, Raymond James Financial set a $64.00 price objective on shares of First Business Financial Services in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and a consensus price target of $75.50.

First Business Financial Services Stock Down 0.2%

Shares of FBIZ opened at $68.69 on Friday. The company has a market capitalization of $574.94 million, a price-to-earnings ratio of 10.47 and a beta of 0.66. First Business Financial Services, Inc. has a 52 week low of $46.07 and a 52 week high of $73.48. The stock’s 50-day moving average price is $66.08 and its 200-day moving average price is $59.75. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.28. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. The company had revenue of $46.71 million during the quarter, compared to analysts’ expectations of $45.42 million. On average, sell-side analysts predict that First Business Financial Services, Inc. will post 6.56 EPS for the current year.

First Business Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.34 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.36 dividend on an annualized basis and a yield of 2.0%. First Business Financial Services’s dividend payout ratio (DPR) is presently 20.73%.

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.