Federated Hermes Inc. Sells 296 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

Federated Hermes Inc. lessened its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,423 shares of the financial services provider’s stock after selling 296 shares during the quarter. Federated Hermes Inc. owned 0.80% of First Business Financial Services worth $2,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vista Investment Management boosted its stake in First Business Financial Services by 0.6% in the fourth quarter. Vista Investment Management now owns 52,410 shares of the financial services provider’s stock valued at $2,102,000 after buying an additional 301 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of First Business Financial Services by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 524 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of First Business Financial Services in the 1st quarter valued at approximately $60,000. BNP Paribas Financial Markets grew its holdings in shares of First Business Financial Services by 73.1% during the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in First Business Financial Services by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock worth $1,402,000 after purchasing an additional 1,998 shares in the last quarter. Institutional investors own 60.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FBIZ shares. Piper Sandler raised their target price on shares of First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. DA Davidson raised First Business Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $50.00 in a report on Monday, August 5th. Finally, StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, First Business Financial Services currently has a consensus rating of “Buy” and a consensus target price of $50.75.

First Business Financial Services Stock Up 1.1 %

Shares of NASDAQ:FBIZ opened at $46.04 on Friday. The firm has a market cap of $381.63 million, a P/E ratio of 10.61 and a beta of 0.82. First Business Financial Services, Inc. has a 12-month low of $28.35 and a 12-month high of $47.23. The business has a fifty day simple moving average of $42.95 and a 200 day simple moving average of $37.54. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.12.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $65.34 million during the quarter, compared to the consensus estimate of $36.73 million. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. Analysts predict that First Business Financial Services, Inc. will post 4.71 earnings per share for the current year.

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 8th. First Business Financial Services’s dividend payout ratio (DPR) is presently 23.04%.

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.