Hotchkis & Wiley Capital Management LLC Has $3 Million Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Hotchkis & Wiley Capital Management LLC trimmed its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 24.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,879 shares of the financial services provider's stock after selling 21,630 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.79% of First Business Financial Services worth $3,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fourthstone LLC bought a new position in First Business Financial Services during the 3rd quarter valued at $389,000. De Lisle Partners LLP grew its holdings in shares of First Business Financial Services by 43.3% during the third quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider's stock valued at $3,040,000 after purchasing an additional 20,183 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of First Business Financial Services in the 3rd quarter worth approximately $316,000. Segall Bryant & Hamill LLC acquired a new stake in First Business Financial Services in the third quarter worth $1,657,000. Finally, First Business Financial Services Inc. boosted its holdings in shares of First Business Financial Services by 3.4% during the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider's stock valued at $16,682,000 after acquiring an additional 12,194 shares during the period. Hedge funds and other institutional investors own 60.07% of the company's stock.

Insider Buying and Selling

In other First Business Financial Services news, CEO James Edward Hartlieb sold 6,344 shares of First Business Financial Services stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $43.15, for a total transaction of $273,743.60. Following the transaction, the chief executive officer now directly owns 28,162 shares in the company, valued at approximately $1,215,190.30. The trade was a 18.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total value of $49,000.00. Following the completion of the sale, the director now directly owns 8,341 shares of the company's stock, valued at approximately $408,709. This represents a 10.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,344 shares of company stock valued at $2,275,144. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FBIZ shares. Piper Sandler cut their price target on First Business Financial Services from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. StockNews.com upgraded shares of First Business Financial Services from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of First Business Financial Services from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, First Business Financial Services presently has an average rating of "Buy" and an average price target of $51.75.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ traded down $0.45 during trading hours on Friday, hitting $49.64. 13,471 shares of the company's stock traded hands, compared to its average volume of 26,039. The company's fifty day simple moving average is $46.67 and its two-hundred day simple moving average is $42.19. The company has a market cap of $412.01 million, a price-to-earnings ratio of 10.65 and a beta of 0.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. First Business Financial Services, Inc. has a 52 week low of $32.56 and a 52 week high of $52.22.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $66.39 million for the quarter, compared to analyst estimates of $38.80 million. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, equities analysts anticipate that First Business Financial Services, Inc. will post 4.78 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.01%. First Business Financial Services's dividend payout ratio (DPR) is 21.46%.

About First Business Financial Services

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.