First Business Financial Services (NASDAQ:FBIZ) Insider Sells $47,378.25 in Stock

First Business Financial Services, Inc. (NASDAQ:FBIZ) insider Jodi Chandler sold 675 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $70.19, for a total transaction of $47,378.25. Following the sale, the insider owned 22,550 shares of the company’s stock, valued at $1,582,784.50. This trade represents a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

First Business Financial Services Price Performance

First Business Financial Services stock opened at $70.85 on Monday. The firm has a market capitalization of $593.01 million, a price-to-earnings ratio of 10.80 and a beta of 0.65. The firm’s fifty day moving average price is $67.13 and its two-hundred day moving average price is $60.13. First Business Financial Services, Inc. has a 1-year low of $46.07 and a 1-year high of $73.48. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.56 by $0.28. The company had revenue of $46.71 million during the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. On average, equities research analysts predict that First Business Financial Services, Inc. will post 6.56 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 12th. First Business Financial Services’s dividend payout ratio is presently 20.73%.

Institutional Trading of First Business Financial Services

Several hedge funds have recently added to or reduced their stakes in FBIZ. California State Teachers Retirement System raised its position in First Business Financial Services by 1,530.7% in the second quarter. California State Teachers Retirement System now owns 7,012 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 6,582 shares during the period. Empowered Funds LLC bought a new position in shares of First Business Financial Services during the 2nd quarter valued at approximately $2,853,000. Bank of America Corp DE purchased a new stake in shares of First Business Financial Services during the 2nd quarter worth approximately $1,515,000. Man Group plc purchased a new stake in shares of First Business Financial Services during the 2nd quarter worth approximately $544,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of First Business Financial Services in the 2nd quarter worth approximately $404,000. Institutional investors own 60.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. DA Davidson set a $80.00 price target on First Business Financial Services and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $75.50.

First Business Financial Services Company Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.