Ieq Capital LLC Takes $853,000 Position in First Business Financial Services, Inc. $FBIZ

Ieq Capital LLC bought a new stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,499 shares of the financial services provider’s stock, valued at approximately $853,000. Ieq Capital LLC owned about 0.16% of First Business Financial Services as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. bought a new position in First Business Financial Services during the 3rd quarter valued at $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 1,287 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of First Business Financial Services by 356.5% in 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 purchasing an additional 1,476 shares during the last quarter. Virtus Advisers LLC bought a new position in shares of First Business Financial Services during the third quarter valued at about $109,000. Finally, Quantbot Technologies LP bought a new position in shares of First Business Financial Services during the second quarter valued at about $147,000. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Stock Performance

NASDAQ:FBIZ opened at $70.82 on Friday. The company has a market capitalization of $592.76 million, a P/E ratio of 10.80 and a beta of 0.66. The business has a fifty day simple moving average of $66.92 and a two-hundred day simple moving average of $60.06. 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, Inc. has a 1 year low of $46.07 and a 1 year high of $73.48.

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

First Business Financial Services Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FBIZ. Weiss Ratings raised shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. 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 report on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, First Business Financial Services has a consensus rating of “Buy” and a consensus price target of $75.50.

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.