State Street Corp Raises Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

State Street Corp grew its stake in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,690 shares of the financial services provider’s stock after buying an additional 2,607 shares during the period. State Street Corp’s holdings in First Business Financial Services were worth $6,232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FBIZ. SG Americas Securities LLC bought a new stake in First Business Financial Services during the 3rd quarter worth approximately $125,000. Squarepoint Ops LLC purchased a new position in shares of First Business Financial Services during the 2nd quarter valued at $204,000. ERn Financial LLC bought a new position in shares of First Business Financial Services in the third quarter worth about $210,000. Creative Planning purchased a new stake in shares of First Business Financial Services during the third quarter worth about $216,000. Finally, Beese Fulmer Investment Management Inc. bought a new position in First Business Financial Services in the 3rd quarter worth approximately $217,000. 60.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Corey A. Chambas sold 40,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.81, for a total value of $1,952,400.00. Following the completion of the sale, the chief executive officer now directly owns 112,750 shares of the company’s stock, valued at $5,503,327.50. This represents a 26.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the transaction, the director now directly owns 8,341 shares in the company, valued at approximately $408,709. The trade was a 10.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,344 shares of company stock valued at $2,275,144. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FBIZ. Keefe, Bruyette & Woods boosted their target price on shares of First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler decreased their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $51.75.

First Business Financial Services Stock Down 2.3 %

NASDAQ FBIZ opened at $45.87 on Friday. The stock has a 50 day moving average price of $47.85 and a 200-day moving average price of $43.61. First Business Financial Services, Inc. has a one year low of $32.56 and a one year high of $52.22. The company has a market capitalization of $380.49 million, a P/E ratio of 9.84 and a beta of 0.86. 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 released its quarterly earnings data 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 business had revenue of $66.39 million during the quarter, compared to analyst estimates of $38.80 million. During the same quarter last year, the business earned $1.17 earnings per share. As a group, equities analysts predict that First Business Financial Services, Inc. will post 4.78 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Thursday, November 7th were issued 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 2.18%. First Business Financial Services’s payout ratio is presently 21.46%.

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.