First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Bought by First Business Financial Services Inc.

First Business Financial Services Inc. increased its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 365,912 shares of the financial services provider’s stock after purchasing an additional 12,194 shares during the quarter. First Business Financial Services accounts for about 1.7% of First Business Financial Services Inc.’s investment portfolio, making the stock its 10th largest holding. First Business Financial Services Inc. owned about 4.41% of First Business Financial Services worth $16,682,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FBIZ. Lazard Asset Management LLC bought a new position in shares of First Business Financial Services during the first quarter worth about $60,000. SG Americas Securities LLC acquired a new stake in shares of First Business Financial Services in the third quarter valued at approximately $125,000. BNP Paribas Financial Markets increased its stake in shares of First Business Financial Services by 73.1% in the first 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 period. ERn Financial LLC acquired a new position in shares of First Business Financial Services during the third quarter worth approximately $210,000. Finally, Creative Planning bought a new position in First Business Financial Services in the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler reduced their price target 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. DA Davidson raised shares of First Business Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $50.00 in a research note on Monday, August 5th. StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $51.00 price target (up from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $50.00.

Insider Transactions 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 that occurred 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 owns 28,162 shares in the company, valued at $1,215,190.30. This represents a 18.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Corey A. Chambas sold 40,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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. This represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

First Business Financial Services Trading Down 1.1 %

Shares of NASDAQ:FBIZ opened at $49.93 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The stock has a market capitalization of $414.42 million, a price-to-earnings ratio of 10.71 and a beta of 0.83. First Business Financial Services, Inc. has a 1-year low of $32.56 and a 1-year high of $51.92. The company has a 50 day moving average price of $44.57 and a 200 day moving average price of $40.32.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. During the same period in the previous year, the firm posted $1.17 EPS. On average, research analysts anticipate that First Business Financial Services, Inc. will post 4.78 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 7th. First Business Financial Services’s payout ratio is 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.