JPMorgan Chase & Co. Has $3.02 Million Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

JPMorgan Chase & Co. reduced its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,211 shares of the financial services provider’s stock after selling 13,834 shares during the period. JPMorgan Chase & Co. owned 1.33% of First Business Financial Services worth $3,017,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of First Business Financial Services during the fourth quarter valued at about $343,000. Strs Ohio raised its position in shares of First Business Financial Services by 47.5% in the first quarter. Strs Ohio now owns 17,700 shares of the financial services provider’s stock valued at $459,000 after buying an additional 5,700 shares during the last quarter. Context BH Capital Management LP raised its position in shares of First Business Financial Services by 0.7% in the first quarter. Context BH Capital Management LP now owns 26,832 shares of the financial services provider’s stock valued at $697,000 after buying an additional 184 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of First Business Financial Services by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 45,227 shares of the financial services provider’s stock valued at $1,174,000 after buying an additional 2,202 shares during the last quarter. Finally, Martingale Asset Management L P raised its position in shares of First Business Financial Services by 13.6% in the first quarter. Martingale Asset Management L P now owns 45,815 shares of the financial services provider’s stock valued at $1,190,000 after buying an additional 5,501 shares during the last quarter. 58.71% of the stock is owned by hedge funds and other institutional investors.

Shares of First Business Financial Services, Inc. (FBIZ) traded up 0.42% on Tuesday, hitting $21.30. 18,865 shares of the company’s stock were exchanged. The stock has a market cap of $185.63 million, a price-to-earnings ratio of 15.57 and a beta of 0.95. The company’s 50-day moving average price is $22.78 and its 200 day moving average price is $24.36. First Business Financial Services, Inc. has a 12-month low of $18.76 and a 12-month high of $28.43.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.19. First Business Financial Services had a net margin of 12.64% and a return on equity of 7.25%. The firm had revenue of $20.22 million for the quarter, compared to analysts’ expectations of $19.45 million. On average, equities analysts predict that First Business Financial Services, Inc. will post $1.50 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, August 3rd. First Business Financial Services’s dividend payout ratio is presently 38.24%.

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FBIZ has been the topic of several analyst reports. Zacks Investment Research lowered shares of First Business Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods downgraded shares of First Business Financial Services from an “outperform” rating to a “mkt perform” rating in a research note on Tuesday, May 2nd. Finally, TheStreet downgraded shares of First Business Financial Services from a “b” rating to a “c+” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.

In other news, insider Michael J. Losenegger sold 2,587 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $23.92, for a total value of $61,881.04. Following the transaction, the insider now owns 26,781 shares in the company, valued at approximately $640,601.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Losenegger sold 2,413 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $23.78, for a total value of $57,381.14. Following the completion of the transaction, the insider now owns 29,368 shares in the company, valued at approximately $698,371.04. The disclosure for this sale can be found here. Insiders have sold 8,775 shares of company stock valued at $199,702 over the last ninety days. Insiders own 6.60% of the company’s stock.

About First Business Financial Services

First Business Financial Services, Inc (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks).

Institutional Ownership by Quarter for First Business Financial Services (NASDAQ:FBIZ)

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