Lazard Asset Management LLC Raises Stock Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Lazard Asset Management LLC boosted its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 49.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,785 shares of the financial services provider’s stock after acquiring an additional 2,252 shares during the period. Lazard Asset Management LLC owned 0.08% of First Business Financial Services worth $314,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in First Business Financial Services in the 4th quarter worth approximately $49,000. BNP Paribas Financial Markets increased its holdings in shares of First Business Financial Services by 28.9% in the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider’s stock worth $101,000 after buying an additional 490 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of First Business Financial Services by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock worth $158,000 after buying an additional 679 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of First Business Financial Services by 28.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider’s stock worth $212,000 after buying an additional 1,021 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of First Business Financial Services in the 4th quarter worth $232,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Analyst Ratings Changes

FBIZ has been the topic of a number of research analyst reports. Wall Street Zen raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods cut their price objective on shares of First Business Financial Services from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Raymond James upped their price objective on shares of First Business Financial Services from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler upped their price objective on shares of First Business Financial Services from $57.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $57.25.

First Business Financial Services Trading Down 0.6%

Shares of FBIZ opened at $47.72 on Friday. The stock has a market capitalization of $396.98 million, a P/E ratio of 9.14 and a beta of 0.66. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The firm has a fifty day simple moving average of $47.67 and a two-hundred day simple moving average of $48.65. First Business Financial Services, Inc. has a twelve month low of $33.10 and a twelve month high of $56.46.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.03. The business had revenue of $40.84 million during the quarter, compared to analysts’ expectations of $40.13 million. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. On average, research analysts anticipate that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

First Business Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 9th. This represents a $1.16 annualized dividend and a yield of 2.43%. First Business Financial Services’s payout ratio is currently 21.09%.

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.