Mackay Shields LLC Boosts Stock Holdings in First Business Financial Services Inc (NASDAQ:FBIZ)

Mackay Shields LLC boosted its position in First Business Financial Services Inc (NASDAQ:FBIZ) by 22.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,966 shares of the financial services provider’s stock after purchasing an additional 6,800 shares during the period. Mackay Shields LLC owned about 0.43% of First Business Financial Services worth $890,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in First Business Financial Services in the second quarter valued at approximately $118,000. Rhumbline Advisers lifted its stake in First Business Financial Services by 9.7% in the third quarter. Rhumbline Advisers now owns 12,656 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 1,122 shares during the last quarter. Bank of Montreal Can lifted its stake in First Business Financial Services by 6.8% in the second quarter. Bank of Montreal Can now owns 13,636 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 867 shares during the last quarter. Acadian Asset Management LLC lifted its stake in First Business Financial Services by 60.1% in the second quarter. Acadian Asset Management LLC now owns 20,083 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 7,542 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in First Business Financial Services by 5.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 20,040 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 1,031 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

NASDAQ:FBIZ opened at $24.48 on Friday. The stock’s fifty day moving average price is $24.36 and its two-hundred day moving average price is $23.68. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.18 and a quick ratio of 1.17. First Business Financial Services Inc has a 1 year low of $18.76 and a 1 year high of $25.92. The company has a market cap of $210.10 million, a P/E ratio of 13.16 and a beta of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.07. First Business Financial Services had a net margin of 17.75% and a return on equity of 11.60%. The business had revenue of $22.57 million during the quarter, compared to analyst estimates of $22.80 million. On average, analysts expect that First Business Financial Services Inc will post 2.6 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.15 per share. The ex-dividend date was Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 2.45%. First Business Financial Services’s payout ratio is 32.26%.

In other First Business Financial Services news, insider Michael J. Losenegger sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $24.02, for a total transaction of $36,030.00. Following the completion of the sale, the insider now directly owns 29,924 shares in the company, valued at $718,774.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.30% of the company’s stock.

Several equities analysts recently commented on the company. ValuEngine downgraded First Business Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Zacks Investment Research downgraded First Business Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st.

First Business Financial Services Profile

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.

Read More: Convertible Shares

Institutional Ownership by Quarter for First Business Financial Services (NASDAQ:FBIZ)

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