Bank of New York Mellon Corp Trims Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Bank of New York Mellon Corp decreased its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,424 shares of the financial services provider’s stock after selling 685 shares during the quarter. Bank of New York Mellon Corp’s holdings in First Business Financial Services were worth $1,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Business Financial Services by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,477 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 206 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of First Business Financial Services by 2.1% in the 4th quarter. Hsbc Holdings PLC now owns 14,043 shares of the financial services provider’s stock valued at $655,000 after buying an additional 293 shares in the last quarter. BNP Paribas Financial Markets grew its position in First Business Financial Services by 28.9% during the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 490 shares during the last quarter. Martingale Asset Management L P grew its position in First Business Financial Services by 5.2% during the 4th quarter. Martingale Asset Management L P now owns 12,854 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 640 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in First Business Financial Services by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 1,021 shares during the period. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Stock Down 2.1%

Shares of NASDAQ:FBIZ opened at $47.77 on Wednesday. The stock’s 50-day moving average price is $50.21 and its two-hundred day moving average price is $49.37. The company has a current ratio of 1.04, a quick ratio of 1.05 and a debt-to-equity ratio of 0.83. First Business Financial Services, Inc. has a 12-month low of $39.65 and a 12-month high of $56.46. The firm has a market cap of $397.45 million, a price-to-earnings ratio of 8.50 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. The company had revenue of $41.04 million for the quarter, compared to the consensus estimate of $41.55 million. On average, research analysts forecast that First Business Financial Services, Inc. will post 5.43 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut their target price on shares of First Business Financial Services from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Piper Sandler upped their target price on shares of First Business Financial Services from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $57.25.

First Business Financial Services Company 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.