First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 136.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,398 shares of the financial services provider’s stock after acquiring an additional 9,474 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in First Business Financial Services were worth $759,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new stake in First Business Financial Services in the 3rd quarter worth about $1,657,000. De Lisle Partners LLP boosted its holdings in First Business Financial Services by 43.3% in the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock worth $3,040,000 after buying an additional 20,183 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in First Business Financial Services by 307.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 18,458 shares during the last quarter. US Bancorp DE boosted its holdings in First Business Financial Services by 371.7% in the 4th quarter. US Bancorp DE now owns 17,925 shares of the financial services provider’s stock worth $830,000 after buying an additional 14,125 shares during the last quarter. Finally, First Business Financial Services Inc. boosted its holdings in First Business Financial Services by 2.8% in the 4th quarter. First Business Financial Services Inc. now owns 376,088 shares of the financial services provider’s stock worth $17,409,000 after buying an additional 10,176 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James lifted their price objective on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on First Business Financial Services from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $58.75.

First Business Financial Services Stock Down 2.2 %

FBIZ stock opened at $47.49 on Friday. The firm has a market cap of $394.21 million, a PE ratio of 9.10 and a beta of 0.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The firm’s 50 day moving average price is $50.08 and its 200-day moving average price is $47.48. First Business Financial Services, Inc. has a one year low of $32.56 and a one year high of $56.46.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. On average, equities research analysts anticipate that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was 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 payout ratio is presently 22.22%.

Insider Activity

In other news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the sale, the insider now owns 7,718 shares of the company’s stock, valued at approximately $421,016.90. The trade was a 38.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.10% of the company’s stock.

First Business Financial Services Company 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.