Segall Bryant & Hamill LLC Invests $1.66 Million in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Segall Bryant & Hamill LLC purchased a new position in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,345 shares of the financial services provider's stock, valued at approximately $1,657,000. Segall Bryant & Hamill LLC owned approximately 0.44% of First Business Financial Services as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBIZ. First Business Financial Services Inc. increased its holdings in First Business Financial Services by 3.4% during the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider's stock valued at $16,682,000 after purchasing an additional 12,194 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in First Business Financial Services by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider's stock worth $19,893,000 after acquiring an additional 7,871 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of First Business Financial Services by 2.1% in the first quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider's stock worth $13,540,000 after acquiring an additional 7,499 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of First Business Financial Services during the first quarter worth approximately $247,000. Finally, Squarepoint Ops LLC bought a new stake in shares of First Business Financial Services during the second quarter valued at approximately $204,000. Institutional investors own 60.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of First Business Financial Services from a "hold" rating to a "buy" rating in a research note on Thursday, October 31st. Piper Sandler reduced their price target on First Business Financial Services from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. DA Davidson upgraded First Business Financial Services from a "neutral" rating to a "buy" rating and upped their price objective for the company from $36.00 to $50.00 in a report on Monday, August 5th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a research note on Monday, July 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $50.00.

First Business Financial Services Stock Up 0.5 %

FBIZ stock traded up $0.23 during trading hours on Friday, reaching $50.48. 33,515 shares of the stock were exchanged, compared to its average volume of 28,439. The firm's 50-day moving average is $45.55 and its 200-day moving average is $41.07. First Business Financial Services, Inc. has a 12 month low of $32.56 and a 12 month high of $51.92. The company has a market cap of $418.98 million, a price-to-earnings ratio of 10.83 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. The company had revenue of $66.39 million during the quarter, compared to analysts' expectations of $38.80 million. During the same period last year, the business earned $1.17 EPS. On average, equities research analysts expect that First Business Financial Services, Inc. will post 4.78 earnings per share for the current year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Thursday, November 7th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.98%. First Business Financial Services's payout ratio is 21.46%.

Insider Activity

In related news, CEO Corey A. Chambas sold 40,000 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.81, for a total value of $1,952,400.00. Following the transaction, the chief executive officer now owns 112,750 shares in the company, valued at approximately $5,503,327.50. This represents a 26.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Kent Lorenz sold 1,000 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were 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 owns 8,341 shares of the company's stock, valued at $408,709. This trade represents a 10.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,344 shares of company stock valued at $2,275,144 in the last quarter. Company insiders own 6.30% of the company's stock.

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.