CenterBook Partners LP Makes New Investment in First Business Financial Services, Inc. $FBIZ

CenterBook Partners LP purchased a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) in the third quarter, HoldingsChannel reports. The firm purchased 10,390 shares of the financial services provider’s stock, valued at approximately $533,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBIZ. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in First Business Financial Services by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 234 shares in the last quarter. Uncommon Cents Investing LLC increased its stake in First Business Financial Services by 0.7% in the third quarter. Uncommon Cents Investing LLC now owns 34,478 shares of the financial services provider’s stock valued at $1,767,000 after purchasing an additional 255 shares during the last quarter. First Trust Advisors LP boosted its stake in First Business Financial Services by 6.6% in the second quarter. First Trust Advisors LP now owns 5,309 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 327 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of First Business Financial Services by 163.2% during the third quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 364 shares during the last quarter. Finally, Cutler Capital Management LLC increased its position in shares of First Business Financial Services by 0.3% during the second quarter. Cutler Capital Management LLC now owns 155,799 shares of the financial services provider’s stock worth $7,893,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Analysts Set New Price Targets

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

First Business Financial Services Trading Up 1.5%

NASDAQ:FBIZ opened at $57.86 on Friday. First Business Financial Services, Inc. has a 1 year low of $42.18 and a 1 year high of $60.53. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average price of $56.84 and a two-hundred day moving average price of $53.18. The stock has a market capitalization of $481.40 million, a price-to-earnings ratio of 9.72 and a beta of 0.76.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. The business had revenue of $42.22 million for the quarter, compared to analysts’ expectations of $43.10 million. First Business Financial Services had a net margin of 18.02% and a return on equity of 15.05%. As a group, sell-side analysts anticipate that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, February 28th. Stockholders of record on Saturday, February 14th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, February 13th. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s payout ratio is 22.86%.

First Business Financial Services Company Profile

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.