Alps Advisors Inc. Buys New Shares in First Business Financial Services, Inc. $FBIZ

Alps Advisors Inc. acquired a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) in the third quarter, HoldingsChannel reports. The fund acquired 8,800 shares of the financial services provider’s stock, valued at approximately $451,000.

A number of other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in First Business Financial Services by 3.3% during the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 431 shares in the last quarter. AQR Capital Management LLC lifted its holdings in First Business Financial Services by 104.5% in the 1st quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 4,924 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First Business Financial Services by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock valued at $222,000 after buying an additional 234 shares during the last quarter. CWM LLC increased its stake in First Business Financial Services by 72.9% in the second quarter. CWM LLC now owns 1,579 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 666 shares during the period. Finally, R Squared Ltd bought a new position in First Business Financial Services during the 2nd quarter valued at about $275,000. 60.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on FBIZ shares. Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their target price on First Business Financial Services from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. DA Davidson reaffirmed a “buy” rating and set a $68.00 price target on shares of First Business Financial Services in a report on Monday, February 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $67.00.

First Business Financial Services Stock Down 0.6%

FBIZ stock opened at $58.36 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03. First Business Financial Services, Inc. has a fifty-two week low of $42.18 and a fifty-two week high of $60.53. The company has a market capitalization of $485.56 million, a price-to-earnings ratio of 9.81 and a beta of 0.76. The stock has a fifty day moving average of $56.65 and a 200-day moving average of $52.80.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, January 29th. The financial services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.38 by $0.20. The business had revenue of $42.22 million during the quarter, compared to the consensus estimate of $43.10 million. First Business Financial Services had a return on equity of 15.05% and a net margin of 18.02%. As a group, equities research analysts predict that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th will be issued a dividend of $0.34 per share. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, February 13th. First Business Financial Services’s dividend payout ratio (DPR) is currently 19.50%.

About First Business Financial Services

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.