Hotchkis & Wiley Capital Management LLC Has $3 Million Stock Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Hotchkis & Wiley Capital Management LLC reduced its position in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 24.7% in the 3rd quarter, Holdings Channel reports. The firm owned 65,879 shares of the financial services provider’s stock after selling 21,630 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in First Business Financial Services were worth $3,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of FBIZ. SG Americas Securities LLC acquired a new position in shares of First Business Financial Services in the 3rd quarter valued at $125,000. Squarepoint Ops LLC acquired a new position in First Business Financial Services in the second quarter worth about $204,000. ERn Financial LLC acquired a new position in First Business Financial Services in the third quarter worth about $210,000. Creative Planning bought a new position in First Business Financial Services during the third quarter worth about $216,000. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in First Business Financial Services during the third quarter valued at approximately $217,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

Insider Activity

In other First Business Financial Services news, CEO James Edward Hartlieb sold 6,344 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $43.15, for a total transaction 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 approximately $1,215,190.30. The trade was a 18.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the transaction, the director now owns 8,341 shares in the company, valued at approximately $408,709. The trade was a 10.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,344 shares of company stock valued at $2,275,144 over the last three months. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FBIZ has been the subject of a number of recent research reports. Piper Sandler cut their target price on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective on First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, First Business Financial Services currently has a consensus rating of “Buy” and a consensus price target of $51.75.

First Business Financial Services Trading Down 0.9 %

FBIZ stock opened at $49.64 on Friday. The business has a fifty day moving average price of $46.67 and a 200 day moving average price of $42.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. First Business Financial Services, Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $52.22. The stock has a market capitalization of $412.01 million, a price-to-earnings ratio of 10.65 and a beta of 0.86.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $66.39 million during the quarter, compared to analyst estimates of $38.80 million. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. During the same period last year, the company posted $1.17 earnings per share. Analysts expect that First Business Financial Services, Inc. will post 4.78 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, November 7th. First Business Financial Services’s dividend payout ratio is presently 21.46%.

About First Business Financial Services

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.