First Business Financial Services, Inc. (NASDAQ:FBIZ) Stake Trimmed by Empowered Funds LLC

Empowered Funds LLC cut its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,865 shares of the financial services provider’s stock after selling 1,296 shares during the quarter. Empowered Funds LLC owned 0.52% of First Business Financial Services worth $1,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in First Business Financial Services in the 1st quarter worth approximately $60,000. SG Americas Securities LLC acquired a new stake in shares of First Business Financial Services in the third quarter worth $125,000. BNP Paribas Financial Markets grew its holdings in shares of First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,659 shares in the last quarter. ERn Financial LLC acquired a new position in First Business Financial Services during the third quarter valued at $210,000. Finally, Creative Planning purchased a new stake in First Business Financial Services in the 3rd quarter worth about $216,000. 60.07% of the stock is currently owned by institutional investors and hedge funds.

First Business Financial Services Stock Down 0.3 %

Shares of FBIZ stock opened at $49.80 on Thursday. The stock has a 50 day moving average of $45.11 and a 200-day moving average of $40.80. The firm has a market cap of $413.30 million, a PE ratio of 10.69 and a beta of 0.83. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. First Business Financial Services, Inc. has a 12 month low of $32.56 and a 12 month high of $51.92.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. During the same quarter last year, the company earned $1.17 earnings per share. On average, equities analysts predict that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th were given 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 2.01%. First Business Financial Services’s dividend payout ratio (DPR) is presently 21.46%.

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, CEO James Edward Hartlieb sold 6,344 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $43.15, for a total value of $273,743.60. Following the completion of the sale, the chief executive officer now directly owns 28,162 shares in the company, valued at $1,215,190.30. This represents a 18.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corey A. Chambas sold 40,000 shares of First Business Financial Services stock in a transaction that occurred on 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 transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.

Wall Street Analyst Weigh In

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

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.