Geode Capital Management LLC Acquires 2,200 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

Geode Capital Management LLC boosted its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,404 shares of the financial services provider’s stock after purchasing an additional 2,200 shares during the period. Geode Capital Management LLC’s holdings in First Business Financial Services were worth $7,907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in First Business Financial Services during the 3rd quarter valued at approximately $125,000. Squarepoint Ops LLC bought a new stake in shares of First Business Financial Services during the 2nd quarter valued at $204,000. ERn Financial LLC purchased a new stake in First Business Financial Services in the 3rd quarter worth approximately $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. purchased a new position in shares of First Business Financial Services during the third quarter valued at about $217,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FBIZ has been the topic of several recent research reports. Piper Sandler decreased their price target on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of First Business Financial Services from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $51.75.

First Business Financial Services Stock Down 2.7 %

Shares of FBIZ stock opened at $45.03 on Friday. The stock has a 50 day moving average of $47.98 and a 200 day moving average of $43.87. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services, Inc. has a twelve month low of $32.56 and a twelve month high of $52.22. The stock has a market cap of $373.52 million, a P/E ratio of 9.66 and a beta of 0.86.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $66.39 million for the quarter, compared to analyst estimates of $38.80 million. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. During the same quarter last year, the business earned $1.17 earnings per share. As a group, sell-side analysts expect that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

First Business Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. First Business Financial Services’s payout ratio is 21.46%.

Insiders Place Their Bets

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the sale, the director now owns 8,341 shares in the company, valued at $408,709. This represents a 10.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Edward Hartlieb sold 6,344 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $43.15, for a total transaction of $273,743.60. Following the transaction, the chief executive officer now owns 28,162 shares of the company’s stock, valued at $1,215,190.30. This trade represents a 18.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,344 shares of company stock valued at $2,275,144 in the last three months. 6.30% of the stock is currently owned by insiders.

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 in Wisconsin, Kansas, and Missouri.