Invesco Ltd. Acquires Shares of 84,622 First Business Financial Services, Inc. (NASDAQ:FBIZ)

Invesco Ltd. bought a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 84,622 shares of the financial services provider's stock, valued at approximately $3,917,000. Invesco Ltd. owned approximately 1.02% of First Business Financial Services as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in First Business Financial Services by 24.8% during the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock worth $158,000 after purchasing an additional 679 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of First Business Financial Services by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider's stock worth $212,000 after acquiring an additional 1,021 shares during the period. R Squared Ltd bought a new stake in shares of First Business Financial Services during the 4th quarter worth approximately $49,000. Bank of New York Mellon Corp boosted its position in shares of First Business Financial Services by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 33,109 shares of the financial services provider's stock worth $1,533,000 after acquiring an additional 1,653 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in First Business Financial Services by 5.0% in the fourth quarter. Empowered Funds LLC now owns 45,021 shares of the financial services provider's stock valued at $2,084,000 after acquiring an additional 2,156 shares during the last quarter. Institutional investors own 60.07% of the company's stock.

Insider Buying and Selling

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 7,718 shares of the company's stock, valued at $421,016.90. This trade represents a 38.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.10% of the stock is currently owned by insiders.

First Business Financial Services Trading Down 4.1 %

NASDAQ FBIZ opened at $47.89 on Monday. First Business Financial Services, Inc. has a twelve month low of $33.00 and a twelve month high of $56.46. The business's fifty day moving average is $48.27 and its 200 day moving average is $48.12. 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 company has a market cap of $397.53 million, a price-to-earnings ratio of 9.17 and a beta of 0.67.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.03. The company had revenue of $40.84 million for the quarter, compared to analysts' expectations of $40.13 million. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. As a group, sell-side analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.42%. This is an increase from First Business Financial Services's previous quarterly dividend of $0.25. First Business Financial Services's dividend payout ratio (DPR) is presently 21.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on First Business Financial Services from $58.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Piper Sandler raised 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. Raymond James lifted their target price 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. Finally, StockNews.com raised shares of First Business Financial Services from a "hold" rating to a "buy" rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, First Business Financial Services has an average rating of "Buy" and an average price target 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.

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