Empowered Funds LLC Has $2.08 Million Stake in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Empowered Funds LLC grew its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,021 shares of the financial services provider’s stock after buying an additional 2,156 shares during the period. Empowered Funds LLC owned 0.54% of First Business Financial Services worth $2,084,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FBIZ. SG Americas Securities LLC acquired a new stake in shares of First Business Financial Services in the third quarter valued at approximately $125,000. Creative Planning acquired a new stake in shares of First Business Financial Services in the third quarter valued at approximately $216,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of First Business Financial Services in the third quarter valued at approximately $217,000. GSA Capital Partners LLP lifted its position in shares of First Business Financial Services by 38.3% in the third quarter. GSA Capital Partners LLP now owns 9,900 shares of the financial services provider’s stock valued at $451,000 after buying an additional 2,740 shares during the last quarter. Finally, First Business Financial Services Inc. lifted its position in shares of First Business Financial Services by 3.4% in 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 buying an additional 12,194 shares during the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Price Performance

First Business Financial Services stock opened at $52.76 on Friday. The stock’s fifty day moving average price is $48.22 and its two-hundred day moving average price is $46.19. First Business Financial Services, Inc. has a one year low of $32.56 and a one year high of $56.46. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market cap of $437.64 million, a PE ratio of 10.11 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts expect that First Business Financial Services, Inc. will post 5.38 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, February 14th. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.25. First Business Financial Services’s dividend payout ratio (DPR) is 22.22%.

Insiders Place Their Bets

In other news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the transaction, the insider now owns 7,718 shares in the company, valued at approximately $421,016.90. This trade represents a 38.48 % decrease in their position. The sale 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 First Business Financial Services 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 transaction, the director now owns 8,341 shares in the company, valued at approximately $408,709. The trade was a 10.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FBIZ. Raymond James increased their target price on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased 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 increased their target price on First Business Financial Services from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus 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.