First Business Financial Services Inc (NASDAQ:FBIZ) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in shares of First Business Financial Services Inc (NASDAQ:FBIZ) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,618 shares of the financial services provider’s stock after selling 2,625 shares during the quarter. Wellington Management Group LLP owned approximately 0.28% of First Business Financial Services worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Banc Funds Co. LLC boosted its position in shares of First Business Financial Services by 3.3% during the 4th quarter. Banc Funds Co. LLC now owns 721,785 shares of the financial services provider’s stock valued at $19,005,000 after acquiring an additional 23,322 shares during the last quarter. Renaissance Technologies LLC raised its holdings in First Business Financial Services by 7.6% in the 4th quarter. Renaissance Technologies LLC now owns 273,205 shares of the financial services provider’s stock valued at $7,193,000 after buying an additional 19,400 shares during the period. Geode Capital Management LLC raised its holdings in First Business Financial Services by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 94,286 shares of the financial services provider’s stock valued at $2,482,000 after buying an additional 1,076 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in First Business Financial Services by 9.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 71,336 shares of the financial services provider’s stock valued at $1,878,000 after buying an additional 6,020 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in First Business Financial Services by 35.4% in the 4th quarter. Bank of New York Mellon Corp now owns 64,845 shares of the financial services provider’s stock valued at $1,707,000 after buying an additional 16,936 shares during the period. 65.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:FBIZ opened at $16.07 on Wednesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $132.04 million, a PE ratio of 6.72 and a beta of 1.09. The firm’s 50-day moving average is $15.79 and its two-hundred day moving average is $20.08. First Business Financial Services Inc has a 1 year low of $12.86 and a 1 year high of $27.35.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.07). First Business Financial Services had a return on equity of 10.76% and a net margin of 16.57%. The firm had revenue of $23.46 million for the quarter, compared to analysts’ expectations of $23.03 million. Analysts expect that First Business Financial Services Inc will post 1.74 EPS for the current fiscal year.

Several analysts recently issued reports on FBIZ shares. Zacks Investment Research upgraded shares of First Business Financial Services from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a report on Monday. Raymond James upgraded shares of First Business Financial Services from a “market perform” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $18.50.

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.

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Institutional Ownership by Quarter for First Business Financial Services (NASDAQ:FBIZ)

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