ERn Financial LLC Makes New Investment in First Business Financial Services, Inc. (NASDAQ:FBIZ)

ERn Financial LLC bought a new stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,615 shares of the financial services provider’s stock, valued at approximately $210,000. ERn Financial LLC owned about 0.06% of First Business Financial Services at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in First Business Financial Services by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock valued at $19,893,000 after buying an additional 7,871 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $13,540,000 after acquiring an additional 7,499 shares in the last quarter. First Business Financial Services Inc. increased its position in First Business Financial Services by 1.2% during the second quarter. First Business Financial Services Inc. now owns 353,718 shares of the financial services provider’s stock worth $13,084,000 after acquiring an additional 4,196 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in First Business Financial Services by 1.7% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 169,903 shares of the financial services provider’s stock worth $6,371,000 after purchasing an additional 2,894 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in First Business Financial Services by 7.8% in the 1st quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock valued at $1,541,000 after purchasing an additional 2,975 shares during the period. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ opened at $45.18 on Thursday. First Business Financial Services, Inc. has a 1 year low of $28.35 and a 1 year high of $47.23. The stock has a market capitalization of $374.50 million, a price-to-earnings ratio of 10.41 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.08 and a quick ratio of 1.07. The company’s 50 day simple moving average is $43.45 and its 200 day simple moving average is $38.73.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. The firm had revenue of $65.34 million for the quarter, compared to the consensus estimate of $36.73 million. As a group, research analysts predict that First Business Financial Services, Inc. will post 4.7 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, August 8th. First Business Financial Services’s payout ratio is 23.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $51.00 target price (up from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Piper Sandler upped their target price on First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $50.00 in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $50.75.

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.