Pacific Ridge Capital Partners LLC Increases Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Pacific Ridge Capital Partners LLC raised its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 157,761 shares of the financial services provider’s stock after purchasing an additional 5,892 shares during the quarter. First Business Financial Services accounts for approximately 1.7% of Pacific Ridge Capital Partners LLC’s holdings, making the stock its 15th biggest position. Pacific Ridge Capital Partners LLC owned about 1.90% of First Business Financial Services worth $7,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hillsdale Investment Management Inc. increased its holdings in First Business Financial Services by 1,646.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider’s stock valued at $2,437,000 after buying an additional 49,628 shares during the last quarter. American Century Companies Inc. grew its position in shares of First Business Financial Services by 43.5% during the 4th quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock valued at $5,184,000 after acquiring an additional 33,957 shares during the period. JPMorgan Chase & Co. increased its stake in shares of First Business Financial Services by 104.4% in the 4th quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider’s stock worth $2,315,000 after purchasing an additional 25,550 shares in the last quarter. De Lisle Partners LLP raised its holdings in First Business Financial Services by 43.3% in the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock worth $3,040,000 after purchasing an additional 20,183 shares during the period. Finally, US Bancorp DE lifted its position in First Business Financial Services by 371.7% during the fourth quarter. US Bancorp DE now owns 17,925 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 14,125 shares in the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Raymond James upped their price target on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler boosted their price objective on First Business Financial Services from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods lifted their price target on shares of First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $58.75.

Insider Activity

In related news, insider Daniel Ovokaitys sold 4,828 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total value of $263,367.40. Following the sale, the insider now directly owns 7,718 shares of the company’s stock, valued at $421,016.90. This represents a 38.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.10% of the company’s stock.

First Business Financial Services Stock Up 0.6 %

NASDAQ FBIZ opened at $48.63 on Thursday. The stock has a 50 day moving average price of $50.31 and a 200-day moving average price of $47.61. First Business Financial Services, Inc. has a one year low of $32.56 and a one year high of $56.46. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The company has a market capitalization of $403.68 million, a P/E ratio of 9.32 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. As a group, equities 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 company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.39%. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. First Business Financial Services’s payout ratio is presently 22.22%.

First Business Financial Services Profile

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.