First Business Financial Services, Inc. (NASDAQ:FBIZ) Director William Kent Lorenz Sells 1,000 Shares

First Business Financial Services, Inc. (NASDAQ:FBIZ) Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the sale, the director now directly owns 8,341 shares of the company’s stock, valued at $408,709. This represents a 10.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

First Business Financial Services Trading Up 0.5 %

NASDAQ FBIZ opened at $50.48 on Friday. First Business Financial Services, Inc. has a one year low of $32.56 and a one year high of $51.92. The firm has a 50 day simple moving average of $45.40 and a 200-day simple moving average of $40.93. The firm has a market cap of $418.98 million, a price-to-earnings ratio of 10.83 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. The company had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. During the same quarter last year, the company posted $1.17 EPS. Equities research analysts anticipate that First Business Financial Services, Inc. will post 4.78 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.98%. First Business Financial Services’s payout ratio is 21.46%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $50.00 in a report on Monday, August 5th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Finally, StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $50.00.

Institutional Investors Weigh In On First Business Financial Services

A number of hedge funds have recently bought and sold shares of FBIZ. Dimensional Fund Advisors LP grew its position in shares of First Business Financial Services by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock worth $19,893,000 after buying an additional 7,871 shares in the last quarter. First Business Financial Services Inc. increased its position in shares of 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 purchasing an additional 12,194 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 7,499 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of First Business Financial Services by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock valued at $7,907,000 after purchasing an additional 2,200 shares in the last quarter. Finally, State Street Corp lifted its position in shares of First Business Financial Services by 1.9% during the 3rd quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock worth $6,232,000 after purchasing an additional 2,607 shares during the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

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.