First Business Financial Services Inc. Purchases 10,176 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

First Business Financial Services Inc. lifted its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,088 shares of the financial services provider's stock after purchasing an additional 10,176 shares during the quarter. First Business Financial Services makes up about 1.7% of First Business Financial Services Inc.'s investment portfolio, making the stock its 10th largest position. First Business Financial Services Inc. owned 4.53% of First Business Financial Services worth $17,409,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in First Business Financial Services in the fourth quarter valued at about $49,000. SG Americas Securities LLC grew its stake in shares of First Business Financial Services by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock valued at $158,000 after purchasing an additional 679 shares during the period. Creative Planning acquired a new position in shares of First Business Financial Services in the 3rd quarter worth approximately $216,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of First Business Financial Services in the 3rd quarter worth approximately $316,000. Finally, Fourthstone LLC bought a new position in shares of First Business Financial Services during the 3rd quarter worth approximately $389,000. Institutional investors and hedge funds own 60.07% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the transaction, the insider now directly owns 7,718 shares in the company, valued at approximately $421,016.90. This represents a 38.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.30% of the company's stock.

First Business Financial Services Price Performance

Shares of First Business Financial Services stock traded down $0.10 during trading on Friday, reaching $48.96. The company's stock had a trading volume of 27,495 shares, compared to its average volume of 20,585. The stock has a 50-day moving average price of $49.57 and a two-hundred day moving average price of $47.29. The stock has a market capitalization of $406.42 million, a P/E ratio of 9.38 and a beta of 0.88. 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 one year low of $32.56 and a one year high of $56.46.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. As a group, sell-side analysts anticipate that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This is an increase from First Business Financial Services's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 2.37%. First Business Financial Services's dividend payout ratio is currently 22.22%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Piper Sandler lifted their price target on shares of First Business Financial Services from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Raymond James boosted their price target on shares of First Business Financial Services from $52.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of First Business Financial Services from $58.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $58.75.

First Business Financial Services Company 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.