First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 14.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 89,066 shares of the financial services provider's stock after selling 15,009 shares during the period. Franklin Resources Inc. owned about 1.07% of First Business Financial Services worth $3,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of First Business Financial Services during the third quarter worth $125,000. Squarepoint Ops LLC purchased a new stake in First Business Financial Services during the 2nd quarter valued at about $204,000. ERn Financial LLC purchased a new position in First Business Financial Services in the 3rd quarter worth approximately $210,000. Creative Planning acquired a new position in shares of First Business Financial Services during the 3rd quarter worth approximately $216,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in shares of First Business Financial Services during the 3rd quarter worth approximately $217,000. Hedge funds and other institutional investors own 60.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on FBIZ. StockNews.com upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Piper Sandler reduced their price target on First Business Financial Services from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Business Financial Services from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $51.75.

Insider Activity at First Business Financial Services

In other news, Director William Kent Lorenz sold 1,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 8,341 shares of the company's stock, valued at approximately $408,709. This trade represents a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Corey A. Chambas sold 40,000 shares of First Business Financial Services stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 112,750 shares of the company's stock, valued at $5,503,327.50. This trade represents a 26.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,344 shares of company stock worth $2,275,144. Insiders own 6.20% of the company's stock.

First Business Financial Services Trading Up 2.7 %

First Business Financial Services stock traded up $1.22 during mid-day trading on Wednesday, hitting $46.73. The company's stock had a trading volume of 29,644 shares, compared to its average volume of 17,421. The stock's fifty day moving average is $47.78 and its two-hundred day moving average is $43.40. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $387.63 million, a PE ratio of 10.03 and a beta of 0.86. First Business Financial Services, Inc. has a 1 year low of $32.56 and a 1 year high of $52.22.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $66.39 million during the quarter, compared to the consensus estimate of $38.80 million. During the same period last year, the company earned $1.17 EPS. On average, analysts anticipate that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. 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 2.14%. First Business Financial Services's payout ratio is currently 21.46%.

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.