Hillsdale Investment Management Inc. Grows Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Hillsdale Investment Management Inc. lifted its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 1,646.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,642 shares of the financial services provider’s stock after purchasing an additional 49,628 shares during the period. Hillsdale Investment Management Inc. owned 0.63% of First Business Financial Services worth $2,437,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FBIZ. Segall Bryant & Hamill LLC purchased a new stake in First Business Financial Services in the 3rd quarter worth approximately $1,657,000. American Century Companies Inc. lifted its stake in First Business Financial Services by 43.5% in the fourth quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock worth $5,184,000 after acquiring an additional 33,957 shares during the period. De Lisle Partners LLP boosted its holdings in First Business Financial Services by 43.3% in the third quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock valued at $3,040,000 after acquiring an additional 20,183 shares in the last quarter. JPMorgan Chase & Co. increased its position in First Business Financial Services by 307.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock valued at $1,115,000 after purchasing an additional 18,458 shares during the period. Finally, US Bancorp DE raised 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 purchasing an additional 14,125 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ opened at $47.49 on Friday. The company has a 50 day simple moving average of $50.08 and a two-hundred day simple moving average of $47.50. First Business Financial Services, Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $56.46. The company has a market capitalization of $394.21 million, a price-to-earnings 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.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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%. Analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend 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 currently 22.22%.

Insider Buying and Selling

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm’s 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 completion of the sale, the insider now owns 7,718 shares of the company’s stock, valued at $421,016.90. This trade represents a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FBIZ has been the topic of a number of research reports. Piper Sandler lifted their target price on shares of First Business Financial Services from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods upped 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. StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Raymond James lifted their price target on First Business Financial Services from $52.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $58.75.

About First Business Financial Services

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.