Hillsdale Investment Management Inc. Has $4.30 Million Stock Position in First Business Financial Services, Inc. $FBIZ

Hillsdale Investment Management Inc. cut its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 19.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,971 shares of the financial services provider’s stock after selling 20,100 shares during the period. Hillsdale Investment Management Inc.’s holdings in First Business Financial Services were worth $4,304,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of First Business Financial Services by 163.2% in the 3rd 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 period. Hollencrest Capital Management raised its stake in First Business Financial Services by 198.0% during the second quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider’s stock worth $31,000 after buying an additional 406 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in First Business Financial Services by 32,175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after buying an additional 1,287 shares during the period. CWM LLC lifted its holdings 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 buying an additional 666 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in First Business Financial Services by 356.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 1,476 shares during the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

Wall Street Analyst Weigh In

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

First Business Financial Services Stock Performance

Shares of FBIZ opened at $57.86 on Monday. First Business Financial Services, Inc. has a one year low of $42.18 and a one year high of $60.53. The company has a market cap of $481.40 million, a PE ratio of 9.72 and a beta of 0.76. The stock has a 50-day moving average of $56.84 and a 200-day moving average of $53.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03.

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

First Business Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, February 13th. This is an increase 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.