First Business Financial Services, Inc. (NASDAQ:FBIZ) Position Boosted by American International Group Inc.

American International Group Inc. boosted its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 7.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,973 shares of the financial services provider’s stock after buying an additional 333 shares during the period. American International Group Inc. owned 0.06% of First Business Financial Services worth $129,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in First Business Financial Services during the fourth quarter valued at about $343,000. Strs Ohio raised its stake in 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 period. Context BH Capital Management LP increased its position in 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 in the last quarter. Bank of New York Mellon Corp increased its position in 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 in the last quarter. Finally, Martingale Asset Management L P increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 58.61% of the company’s stock.

Shares of First Business Financial Services, Inc. (NASDAQ FBIZ) opened at 21.12 on Friday. The firm has a market capitalization of $184.06 million, a PE ratio of 15.44 and a beta of 0.95. The firm’s 50-day moving average is $22.22 and its 200 day moving average is $24.13. First Business Financial Services, Inc. has a 52 week low of $18.76 and a 52 week high of $28.43.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Friday, July 28th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $20.22 million for the quarter, compared to the consensus estimate of $19.45 million. On average, equities analysts forecast that First Business Financial Services, Inc. will post $1.50 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were given a $0.13 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.46%. First Business Financial Services’s dividend payout ratio is currently 38.24%.

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Several research firms recently commented on FBIZ. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $25.00 price target on shares of First Business Financial Services in a research note on Thursday, August 3rd. TheStreet downgraded shares of First Business Financial Services from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.00.

In other First Business Financial Services news, Director Jerome J. Smith sold 1,475 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $21.40, for a total value of $31,565.00. Following the completion of the sale, the director now owns 1,250 shares in the company, valued at approximately $26,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles H. Batson sold 2,300 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $21.25, for a total value of $48,875.00. Following the completion of the transaction, the insider now directly owns 26,907 shares of the company’s stock, valued at $571,773.75. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by company insiders.

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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