Segall Bryant & Hamill LLC Buys New Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Segall Bryant & Hamill LLC purchased a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 36,345 shares of the financial services provider’s stock, valued at approximately $1,657,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Business Financial Services Inc. grew its position in shares of First Business Financial Services by 3.4% during the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock worth $16,682,000 after acquiring an additional 12,194 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in First Business Financial Services by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock worth $19,893,000 after purchasing an additional 7,871 shares during the period. Vanguard Group Inc. grew its position in First Business Financial Services by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock worth $13,540,000 after purchasing an additional 7,499 shares during the last quarter. Quadrature Capital Ltd acquired a new position in First Business Financial Services in the first quarter valued at $247,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of First Business Financial Services in the second quarter valued at about $204,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Insider Buying and Selling

In other news, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the transaction, the director now owns 8,341 shares of the company’s stock, valued at $408,709. The trade was a 10.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.81, for a total transaction of $1,952,400.00. Following the completion of the sale, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. The trade was a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,344 shares of company stock valued at $2,275,144. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

First Business Financial Services Stock Performance

NASDAQ FBIZ opened at $50.48 on Friday. The stock has a market capitalization of $418.98 million, a price-to-earnings ratio of 10.83 and a beta of 0.83. The business’s 50 day moving average is $45.55 and its two-hundred day moving average is $41.03. First Business Financial Services, Inc. has a 12-month low of $32.56 and a 12-month high of $51.92. 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 (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. The firm had revenue of $66.39 million for the quarter, compared to analyst estimates of $38.80 million. During the same quarter in the prior year, the company posted $1.17 earnings per share. Research analysts expect that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

First Business Financial Services Dividend Announcement

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

About First Business Financial Services

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.