Riverwater Partners LLC Reduces Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Riverwater Partners LLC lessened its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,244 shares of the financial services provider’s stock after selling 651 shares during the period. Riverwater Partners LLC’s holdings in First Business Financial Services were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBIZ. Quadrature Capital Ltd acquired a new position in shares of First Business Financial Services in the 1st quarter valued at about $247,000. Vanguard Group Inc. raised its position in First Business Financial Services by 2.1% during the first quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock valued at $13,540,000 after acquiring an additional 7,499 shares in the last quarter. Lazard Asset Management LLC acquired a new position in First Business Financial Services in the first quarter valued at approximately $60,000. Empowered Funds LLC boosted its position in First Business Financial Services by 7.8% in the 1st quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock worth $1,541,000 after purchasing an additional 2,975 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of First Business Financial Services by 73.1% during the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares during the period. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FBIZ. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $51.00 target price (up from $48.00) on shares of First Business Financial Services in a research note on Monday, July 29th. StockNews.com downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday. DA Davidson raised shares of First Business Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $50.00 in a research note on Monday, August 5th. Finally, Piper Sandler upped their price target on First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.75.

First Business Financial Services Price Performance

NASDAQ:FBIZ opened at $44.39 on Thursday. The stock has a 50 day moving average of $43.87 and a two-hundred day moving average of $39.06. The firm has a market cap of $367.95 million, a P/E ratio of 10.23 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. First Business Financial Services, Inc. has a 12 month low of $28.50 and a 12 month high of $47.23.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $65.34 million for the quarter, compared to analyst estimates of $36.73 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. On average, analysts expect that First Business Financial Services, Inc. will post 4.7 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were given a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.25%. First Business Financial Services’s dividend payout ratio (DPR) is presently 23.04%.

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 in Wisconsin, Kansas, and Missouri.