Hillsdale Investment Management Inc. Purchases 49,628 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

Hillsdale Investment Management Inc. increased its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 1,646.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,642 shares of the financial services provider's stock after purchasing an additional 49,628 shares during the quarter. Hillsdale Investment Management Inc. owned 0.63% of First Business Financial Services worth $2,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. R Squared Ltd acquired a new position in First Business Financial Services in the fourth quarter worth approximately $49,000. SG Americas Securities LLC boosted its stake in shares of First Business Financial Services by 24.8% during the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock worth $158,000 after acquiring an additional 679 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of First Business Financial Services in the 3rd quarter worth $316,000. Fourthstone LLC acquired a new position in shares of First Business Financial Services in the 3rd quarter worth $389,000. Finally, US Bancorp DE raised its position in shares of 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 worth $830,000 after purchasing an additional 14,125 shares during the period. 60.07% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

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

First Business Financial Services Stock Up 0.5 %

NASDAQ FBIZ traded up $0.23 during trading on Thursday, reaching $48.86. 23,278 shares of the company's stock were exchanged, compared to its average volume of 21,532. The firm has a market capitalization of $405.59 million, a PE ratio of 9.36 and a beta of 0.88. First Business Financial Services, Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $56.46. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The company's fifty day simple moving average is $50.31 and its 200-day simple moving average is $47.61.

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 EPS for the quarter, beating 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%. Sell-side analysts predict that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This is a boost from First Business Financial Services's previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a yield of 2.37%. First Business Financial Services's dividend payout ratio is currently 22.22%.

Insiders Place Their Bets

In other news, insider Daniel Ovokaitys sold 4,828 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $54.55, for a total transaction of $263,367.40. Following the completion of the sale, the insider now owns 7,718 shares in the company, valued at approximately $421,016.90. This represents a 38.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.10% of the company's stock.

First Business Financial Services Company 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.