Jane Street Group LLC Reduces Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Jane Street Group LLC lessened its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 33.1% during the 3rd quarter, Holdings Channel reports. The firm owned 5,024 shares of the financial services provider’s stock after selling 2,482 shares during the quarter. Jane Street Group LLC’s holdings in First Business Financial Services were worth $229,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew 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 valued at $19,893,000 after purchasing an additional 7,871 shares during the last quarter. First Business Financial Services Inc. grew its stake in First Business Financial Services by 3.4% during the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock valued at $16,682,000 after purchasing an additional 12,194 shares during the last quarter. State Street Corp grew its stake in First Business Financial Services by 1.9% during the 3rd quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock valued at $6,232,000 after purchasing an additional 2,607 shares during the last quarter. De Lisle Partners LLP grew its stake in First Business Financial Services by 43.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock valued at $3,040,000 after purchasing an additional 20,183 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in First Business Financial Services by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 1,998 shares during the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Insider Buying and Selling

In other First Business Financial Services news, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total value of $49,000.00. Following the transaction, the director now directly owns 8,341 shares of the company’s stock, valued at $408,709. The trade was a 10.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,344 shares of company stock valued at $2,275,144. 6.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

First Business Financial Services Stock Performance

Shares of FBIZ stock opened at $42.78 on Friday. The stock has a market cap of $354.86 million, a PE ratio of 9.18 and a beta of 0.87. The business has a 50-day simple moving average of $48.06 and a 200-day simple moving average of $44.37. 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 52-week low of $32.56 and a 52-week high of $52.22.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results 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. The company had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. During the same quarter in the prior year, the firm posted $1.17 EPS. On average, equities analysts expect that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

First Business Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors 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 2.34%. First Business Financial Services’s payout ratio is 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.