US Bancorp DE Has $830,000 Stock Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

US Bancorp DE increased its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 371.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,925 shares of the financial services provider's stock after purchasing an additional 14,125 shares during the period. US Bancorp DE owned approximately 0.22% of First Business Financial Services worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FBIZ. R Squared Ltd purchased a new position in First Business Financial Services during the fourth quarter valued at approximately $49,000. SG Americas Securities LLC boosted its stake in shares of First Business Financial Services by 24.8% in the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock worth $158,000 after buying an additional 679 shares during the last quarter. Creative Planning purchased a new stake in shares of First Business Financial Services in the third quarter worth about $216,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Business Financial Services in the 3rd quarter worth about $316,000. Finally, Fourthstone LLC acquired a new position in First Business Financial Services in the 3rd quarter worth about $389,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the business's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the transaction, the insider now owns 7,718 shares in the company, valued at $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.10% of the company's stock.

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First Business Financial Services Stock Up 1.5 %

Shares of NASDAQ FBIZ traded up $0.71 on Friday, hitting $47.39. The company had a trading volume of 20,867 shares, compared to its average volume of 20,809. The firm has a market capitalization of $393.38 million, a P/E ratio of 9.08 and a beta of 0.88. First Business Financial Services, Inc. has a 12-month low of $32.56 and a 12-month high of $56.46. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $49.64 and a two-hundred day moving average of $47.35.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) 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 research analysts forecast that First Business Financial Services, Inc. will post 5.43 earnings per share 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. Stockholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from First Business Financial Services's previous quarterly dividend of $0.25. First Business Financial Services's payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FBIZ. Keefe, Bruyette & Woods increased their target price on First Business Financial Services from $58.00 to $60.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Piper Sandler increased their price target on First Business Financial Services from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. StockNews.com upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a research report on Monday, February 3rd. Finally, Raymond James raised 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $58.75.

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.