First Business Financial Services (NASDAQ:FBIZ) Downgraded by StockNews.com

StockNews.com downgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a buy rating to a hold rating in a research report released on Wednesday morning.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ opened at $45.69 on Wednesday. First Business Financial Services has a 52 week low of $28.35 and a 52 week high of $45.80. The business’s 50 day moving average price is $36.22 and its 200 day moving average price is $35.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.34. The firm has a market cap of $378.77 million, a P/E ratio of 10.53 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. First Business Financial Services had a net margin of 15.66% and a return on equity of 14.06%. The business had revenue of $65.34 million for the quarter, compared to the consensus estimate of $36.73 million. On average, sell-side analysts expect that First Business Financial Services will post 4.52 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Thursday, May 9th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. First Business Financial Services’s payout ratio is currently 23.04%.

Insider Transactions at First Business Financial Services

In related news, Director William Kent Lorenz sold 1,345 shares of First Business Financial Services stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $34.51, for a total transaction of $46,415.95. Following the completion of the transaction, the director now directly owns 9,836 shares in the company, valued at $339,440.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Uncommon Cents Investing LLC boosted its holdings in First Business Financial Services by 4.3% during the fourth quarter. Uncommon Cents Investing LLC now owns 36,255 shares of the financial services provider’s stock worth $1,454,000 after buying an additional 1,485 shares in the last quarter. Federated Hermes Inc. raised its position in shares of First Business Financial Services by 3.9% in the fourth quarter. Federated Hermes Inc. now owns 65,483 shares of the financial services provider’s stock worth $2,626,000 after acquiring an additional 2,444 shares during the period. Empowered Funds LLC boosted its stake in shares of First Business Financial Services by 7.8% during the 1st quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock worth $1,541,000 after acquiring an additional 2,975 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of First Business Financial Services by 70.7% during the 4th quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 1,601 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of First Business Financial Services by 28.1% in the 4th quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 938 shares in the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

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.