Banc Funds Co. LLC Sells 37,904 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

Banc Funds Co. LLC reduced its position in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 401,626 shares of the financial services provider's stock after selling 37,904 shares during the quarter. First Business Financial Services comprises about 2.0% of Banc Funds Co. LLC's portfolio, making the stock its 11th largest position. Banc Funds Co. LLC owned about 4.84% of First Business Financial Services worth $18,310,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in First Business Financial Services by 1.5% in 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 period. First Business Financial Services Inc. increased its holdings in First Business Financial Services by 3.4% in the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider's stock valued at $16,682,000 after buying an additional 12,194 shares during the period. Vanguard Group Inc. increased its holdings in First Business Financial Services by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider's stock valued at $13,540,000 after buying an additional 7,499 shares during the period. De Lisle Partners LLP boosted its stake in shares of First Business Financial Services by 43.3% in the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider's stock valued at $3,040,000 after purchasing an additional 20,183 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of First Business Financial Services by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider's stock valued at $1,402,000 after purchasing an additional 1,998 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FBIZ has been the topic of a number of research analyst reports. Piper Sandler reduced their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 29th. DA Davidson upgraded shares of First Business Financial Services from a "neutral" rating to a "buy" rating and raised their price target for the company from $36.00 to $50.00 in a research note on Monday, August 5th. 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $50.00.

First Business Financial Services Trading Up 0.2 %

NASDAQ:FBIZ traded up $0.11 during mid-day trading on Monday, hitting $50.23. 7,155 shares of the company's stock were exchanged, compared to its average volume of 16,630. The company has a 50 day simple moving average of $46.11 and a 200-day simple moving average of $41.69. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services, Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $52.22. The firm has a market capitalization of $416.91 million, a P/E ratio of 10.66 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly 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. The firm had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, research analysts expect that First Business Financial Services, Inc. will post 4.78 earnings per share for the current year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. First Business Financial Services's dividend payout ratio (DPR) is currently 21.46%.

Insider Transactions at First Business Financial Services

In other news, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total value of $49,000.00. Following the completion of the sale, the director now owns 8,341 shares in the company, valued at $408,709. The trade was a 10.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James Edward Hartlieb sold 6,344 shares of First Business Financial Services stock in a transaction on Thursday, October 31st. The shares were 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,344 shares of company stock worth $2,275,144. Company insiders own 6.30% of the company's stock.

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.