First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,865 shares of the financial services provider's stock after selling 13,900 shares during the period. Renaissance Technologies LLC owned 1.78% of First Business Financial Services worth $6,845,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in First Business Financial Services during the fourth quarter worth approximately $49,000. SG Americas Securities LLC lifted its position in shares of First Business Financial Services by 24.8% during the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock worth $158,000 after purchasing an additional 679 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of First Business Financial Services by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider's stock worth $212,000 after acquiring an additional 1,021 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in First Business Financial Services by 136.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,398 shares of the financial services provider's stock valued at $759,000 after purchasing an additional 9,474 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of First Business Financial Services by 371.7% during the 4th quarter. US Bancorp DE now owns 17,925 shares of the financial services provider's stock worth $830,000 after buying an additional 14,125 shares in the last quarter. Hedge funds and other institutional investors own 60.07% of the company's stock.

Insider Buying and Selling

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $54.55, for a total transaction of $263,367.40. Following the transaction, the insider now owns 7,718 shares in the company, valued at $421,016.90. This trade represents a 38.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

First Business Financial Services Trading Down 0.3 %

FBIZ stock traded down $0.13 during trading on Thursday, reaching $48.54. 2,847 shares of the stock were exchanged, compared to its average volume of 23,241. The business has a 50 day moving average price of $48.45 and a 200-day moving average price of $47.95. First Business Financial Services, Inc. has a 1 year low of $33.00 and a 1 year high of $56.46. 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 $402.89 million, a price-to-earnings ratio of 9.30 and a beta of 0.67.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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%. On average, research analysts predict that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. This is a boost from First Business Financial Services's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 2.39%. First Business Financial Services's dividend payout ratio is presently 22.22%.

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.