Man Group plc Purchases Shares of 8,607 First Business Financial Services, Inc. $FBIZ

Man Group plc purchased a new stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,607 shares of the financial services provider’s stock, valued at approximately $544,000.

Several other institutional investors also recently modified their holdings of FBIZ. Vista Investment Management acquired a new stake in First Business Financial Services in the second quarter valued at $3,307,000. De Lisle Partners LLP bought a new stake in shares of First Business Financial Services in the 2nd quarter valued at about $6,258,000. GSA Capital Partners LLP grew its position in shares of First Business Financial Services by 149.1% in the 4th quarter. GSA Capital Partners LLP now owns 30,210 shares of the financial services provider’s stock valued at $1,640,000 after buying an additional 18,083 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of First Business Financial Services in the second quarter valued at about $15,351,000. Finally, LSV Asset Management raised its position in shares of First Business Financial Services by 7.8% during the fourth quarter. LSV Asset Management now owns 134,127 shares of the financial services provider’s stock worth $7,283,000 after acquiring an additional 9,738 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Stock Performance

Shares of FBIZ opened at $72.04 on Friday. First Business Financial Services, Inc. has a one year low of $46.07 and a one year high of $73.48. The company has a market cap of $602.97 million, a PE ratio of 10.98 and a beta of 0.65. The stock has a 50-day moving average of $67.84 and a 200-day moving average of $60.48. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.28. The business had revenue of $46.71 million for the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. On average, equities research analysts predict that First Business Financial Services, Inc. will post 6.56 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 12th. First Business Financial Services’s dividend payout ratio is presently 20.73%.

Insider Buying and Selling at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the transaction, the insider directly owned 22,550 shares in the company, valued at $1,582,784.50. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. DA Davidson set a $80.00 target price on shares of First Business Financial Services and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $75.50.

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.