First Business Financial Services Inc. Sells 22,886 Shares of First Business Financial Services Inc (NASDAQ:FBIZ)

First Business Financial Services Inc. trimmed its stake in shares of First Business Financial Services Inc (NASDAQ:FBIZ) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 363,271 shares of the financial services provider’s stock after selling 22,886 shares during the quarter. First Business Financial Services accounts for 1.5% of First Business Financial Services Inc.’s portfolio, making the stock its 10th largest holding. First Business Financial Services Inc. owned approximately 4.15% of First Business Financial Services worth $8,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of First Business Financial Services by 3.5% in the fourth quarter. BlackRock Inc. now owns 456,005 shares of the financial services provider’s stock valued at $8,897,000 after acquiring an additional 15,471 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First Business Financial Services by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 354,548 shares of the financial services provider’s stock valued at $6,917,000 after acquiring an additional 25,757 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of First Business Financial Services by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 71,873 shares of the financial services provider’s stock valued at $1,402,000 after acquiring an additional 3,299 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of First Business Financial Services by 576.3% in the first quarter. BNP Paribas Arbitrage SA now owns 1,738 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,481 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of First Business Financial Services by 23.9% in the first quarter. Wedge Capital Management L L P NC now owns 17,856 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 3,443 shares during the last quarter. 62.37% of the stock is currently owned by institutional investors.

FBIZ stock opened at $23.42 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average of $23.69. First Business Financial Services Inc has a fifty-two week low of $18.76 and a fifty-two week high of $25.00. The company has a market cap of $205.79 million, a PE ratio of 9.61, a PEG ratio of 1.22 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.28. First Business Financial Services had a net margin of 18.34% and a return on equity of 11.93%. The firm had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $22.03 million. On average, equities research analysts anticipate that First Business Financial Services Inc will post 2.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, August 2nd. First Business Financial Services’s dividend payout ratio is presently 32.26%.

In other First Business Financial Services news, Director William Kent Lorenz sold 2,000 shares of First Business Financial Services stock in a transaction on Monday, June 10th. The shares were sold at an average price of $23.10, for a total transaction of $46,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by insiders.

Several research analysts recently weighed in on FBIZ shares. Zacks Investment Research upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday. TheStreet upgraded shares of First Business Financial Services from a “c+” rating to a “b-” rating in a research report on Wednesday, July 10th. ValuEngine upgraded shares of First Business Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, DA Davidson cut shares of First Business Financial Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 9th. They noted that the move was a valuation call.

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.

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Institutional Ownership by Quarter for First Business Financial Services (NASDAQ:FBIZ)

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