First Business Financial Services, Inc. (NASDAQ:FBIZ) Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 307.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,468 shares of the financial services provider’s stock after purchasing an additional 18,458 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.29% of First Business Financial Services worth $1,115,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of First Business Financial Services by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock valued at $19,893,000 after buying an additional 7,871 shares during the last quarter. First Business Financial Services Inc. raised its position in First Business Financial Services by 3.4% during the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock valued at $16,682,000 after acquiring an additional 12,194 shares in the last quarter. Geode Capital Management LLC lifted its stake in First Business Financial Services by 1.3% in the third quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock valued at $7,907,000 after acquiring an additional 2,200 shares during the last quarter. State Street Corp grew its position in First Business Financial Services by 1.9% in the third quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock worth $6,232,000 after acquiring an additional 2,607 shares in the last quarter. Finally, De Lisle Partners LLP increased its stake in shares of First Business Financial Services by 43.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock worth $3,040,000 after purchasing an additional 20,183 shares during the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Stock Performance

NASDAQ:FBIZ opened at $47.50 on Friday. The firm has a market capitalization of $394.01 million, a PE ratio of 10.19 and a beta of 0.87. First Business Financial Services, Inc. has a 1 year low of $32.56 and a 1 year high of $52.22. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm’s fifty day simple moving average is $47.53 and its 200 day simple moving average is $45.00.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. The company had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. During the same period last year, the business posted $1.17 earnings per share. On average, sell-side analysts anticipate that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

Insider Activity at First Business Financial Services

In other First Business Financial Services news, CEO James Edward Hartlieb sold 6,344 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $43.15, for a total value of $273,743.60. Following the completion of the sale, the chief executive officer now directly owns 28,162 shares of the company’s stock, valued at $1,215,190.30. This represents a 18.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Corey A. Chambas sold 40,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.81, for a total transaction of $1,952,400.00. Following the transaction, the chief executive officer now owns 112,750 shares in the company, valued at approximately $5,503,327.50. The trade was a 26.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,344 shares of company stock worth $2,275,144 in the last 90 days. 6.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FBIZ shares. Piper Sandler reduced their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a report on Friday. Finally, Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.75.

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.