First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lessened its stake in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 6.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,112 shares of the financial services provider’s stock after selling 770 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.15% of First Business Financial Services worth $552,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in First Business Financial Services by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 524 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of First Business Financial Services in the 1st quarter worth approximately $60,000. BNP Paribas Financial Markets raised its holdings in shares of First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in First Business Financial Services by 5.6% during the second 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. Finally, SG Americas Securities LLC bought a new stake in First Business Financial Services during the third quarter worth approximately $125,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. 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 target (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $50.00 in a report on Monday, August 5th. Finally, Piper Sandler decreased their target price on shares of 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, First Business Financial Services currently has an average rating of “Buy” and an average target price of $50.00.

First Business Financial Services Price Performance

NASDAQ FBIZ opened at $48.74 on Friday. The company has a 50 day simple moving average of $44.19 and a 200-day simple moving average of $39.94. First Business Financial Services, Inc. has a 52-week low of $31.90 and a 52-week high of $50.22. The firm has a market capitalization of $404.54 million, a price-to-earnings ratio of 10.46 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $38.80 million. During the same quarter last year, the firm earned $1.17 earnings per share. Equities research analysts predict that First Business Financial Services, Inc. will post 4.78 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, November 7th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. First Business Financial Services’s dividend payout ratio is currently 21.46%.

Insider Activity at First Business Financial Services

In other First Business Financial Services news, CEO Corey A. Chambas sold 40,000 shares of the business’s stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Corey A. Chambas sold 40,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO James Edward Hartlieb sold 6,344 shares of First Business Financial Services stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 28,162 shares in the company, valued at approximately $1,215,190.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.

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.