Man Group plc Purchases Shares of 8,607 First Business Financial Services, Inc. $FBIZ

Man Group plc acquired a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,607 shares of the financial services provider’s stock, valued at approximately $544,000. Man Group plc owned 0.10% of First Business Financial Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FBIZ. Vista Investment Management bought a new stake in shares of First Business Financial Services during the 2nd quarter worth about $3,307,000. De Lisle Partners LLP bought a new position in First Business Financial Services in the 2nd quarter valued at about $6,258,000. GSA Capital Partners LLP lifted its position in First Business Financial Services by 149.1% during the fourth quarter. GSA Capital Partners LLP now owns 30,210 shares of the financial services provider’s stock worth $1,640,000 after acquiring an additional 18,083 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of First Business Financial Services during the second quarter worth approximately $15,351,000. Finally, LSV Asset Management grew its position in shares of First Business Financial Services by 7.8% in the fourth quarter. LSV Asset Management now owns 134,127 shares of the financial services provider’s stock valued at $7,283,000 after purchasing an additional 9,738 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other First Business Financial Services news, insider Jodi Chandler sold 675 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares in the company, valued at approximately $1,582,784.50. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.00% of the company’s stock.

First Business Financial Services Stock Up 0.3%

Shares of NASDAQ FBIZ opened at $72.04 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. The company has a market cap of $602.97 million, a price-to-earnings ratio of 10.98 and a beta of 0.65. First Business Financial Services, Inc. has a 12 month low of $46.07 and a 12 month high of $73.48. The stock has a 50-day moving average price of $67.84 and a two-hundred day moving average price of $60.48.

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

First Business Financial Services Dividend Announcement

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

Analyst Upgrades and Downgrades

FBIZ has been the topic of a number of recent research reports. Weiss Ratings upgraded First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. DA Davidson set a $80.00 price target on First Business Financial Services and gave the stock a “buy” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, First Business Financial Services presently has a consensus rating of “Buy” and a consensus price target of $75.50.

About First Business Financial Services

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.