Franklin Resources Inc. Lowers Stock Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Franklin Resources Inc. trimmed its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 35.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 57,829 shares of the financial services provider’s stock after selling 31,237 shares during the period. Franklin Resources Inc.’s holdings in First Business Financial Services were worth $2,677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. R Squared Ltd acquired a new position in First Business Financial Services during the fourth quarter worth $49,000. SG Americas Securities LLC grew its stake in shares of First Business Financial Services by 24.8% during the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 679 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of First Business Financial Services by 136.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,398 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 9,474 shares in the last quarter. US Bancorp DE lifted its stake in shares of First Business Financial Services by 371.7% in the fourth quarter. US Bancorp DE now owns 17,925 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 14,125 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in First Business Financial Services by 307.1% during the third quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 18,458 shares in the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBIZ has been the subject of a number of research analyst reports. Piper Sandler increased 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 report on Tuesday, February 4th. Keefe, Bruyette & Woods lifted their price objective 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 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 stock an “outperform” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, First Business Financial Services currently has an average rating of “Buy” and a consensus target price of $58.75.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ opened at $45.04 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The business’s fifty day moving average price is $49.65 and its two-hundred day moving average price is $47.80. The stock has a market cap of $373.88 million, a PE ratio of 8.63 and a beta of 0.67. First Business Financial Services, Inc. has a one year low of $32.56 and a one year high of $56.46.

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

First Business Financial Services Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date 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 Activity at First Business Financial Services

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the transaction, the insider now directly owns 7,718 shares in the company, valued at approximately $421,016.90. The trade was a 38.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.10% of the company’s stock.

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.