R Squared Ltd Invests $275,000 in First Business Financial Services, Inc. $FBIZ

R Squared Ltd acquired a new position in First Business Financial Services, Inc. (NASDAQ:FBIZ) during the second quarter, HoldingsChannel.com reports. The fund acquired 5,421 shares of the financial services provider’s stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FBIZ. Vanguard Group Inc. grew its position in shares of First Business Financial Services by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 449,280 shares of the financial services provider’s stock worth $21,184,000 after buying an additional 49,254 shares during the last quarter. American Century Companies Inc. grew its position in shares of First Business Financial Services by 30.6% in the 1st quarter. American Century Companies Inc. now owns 146,230 shares of the financial services provider’s stock worth $6,895,000 after buying an additional 34,250 shares during the last quarter. Nuveen LLC purchased a new stake in First Business Financial Services during the 1st quarter worth approximately $1,085,000. First Business Financial Services Inc. grew its position in First Business Financial Services by 4.7% during the 1st quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider’s stock worth $18,569,000 after purchasing an additional 17,731 shares during the last quarter. Finally, Informed Momentum Co LLC purchased a new stake in First Business Financial Services during the 1st quarter worth approximately $831,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

First Business Financial Services Stock Up 1.7%

FBIZ stock opened at $50.61 on Friday. The firm’s fifty day simple moving average is $50.93 and its 200-day simple moving average is $49.77. The company has a market capitalization of $421.08 million, a P/E ratio of 9.01 and a beta of 0.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.04 and a quick ratio of 1.03. First Business Financial Services, Inc. has a 12 month low of $42.18 and a 12 month high of $56.46.

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

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, Director Jason R. Graham acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average cost of $47.87 per share, with a total value of $47,870.00. Following the acquisition, the director directly owned 3,220 shares of the company’s stock, valued at approximately $154,141.40. The trade was a 45.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ralph R. Kauten acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $47.80 per share, for a total transaction of $478,000.00. Following the completion of the acquisition, the director directly owned 29,756 shares in the company, valued at approximately $1,422,336.80. The trade was a 50.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of First Business Financial Services in a research report on Saturday. Piper Sandler boosted their target price on shares of First Business Financial Services from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, First Business Financial Services currently has an average rating of “Buy” and an average target price of $59.67.

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.