State Street Corp Boosts Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

State Street Corp increased its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,690 shares of the financial services provider’s stock after acquiring an additional 2,607 shares during the quarter. State Street Corp owned about 1.65% of First Business Financial Services worth $6,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in FBIZ. SG Americas Securities LLC bought a new position in First Business Financial Services in the 3rd quarter worth $125,000. Squarepoint Ops LLC bought a new position in First Business Financial Services in the second quarter worth about $204,000. ERn Financial LLC bought a new position in First Business Financial Services in the third quarter worth about $210,000. Creative Planning purchased a new stake in First Business Financial Services in the third quarter worth about $216,000. Finally, Beese Fulmer Investment Management Inc. bought a new stake in First Business Financial Services during the 3rd quarter valued at approximately $217,000. Institutional investors own 60.07% of the company’s stock.

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. This trade represents a 26.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $49,000.00. Following the completion of the sale, the director now directly owns 8,341 shares of the company’s stock, valued at approximately $408,709. The trade was a 10.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,344 shares of company stock worth $2,275,144. 6.30% of the stock is owned by corporate insiders.

First Business Financial Services Stock Performance

First Business Financial Services stock opened at $45.87 on Friday. First Business Financial Services, Inc. has a twelve month low of $32.56 and a twelve month high of $52.22. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $380.49 million, a P/E ratio of 9.84 and a beta of 0.86. The stock’s 50 day moving average is $47.85 and its 200 day moving average is $43.61.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate 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 business had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. During the same period in the previous year, the company posted $1.17 earnings per share. On average, 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 was paid on Wednesday, November 20th. Investors of record on Thursday, November 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.18%. The ex-dividend date was Thursday, November 7th. First Business Financial Services’s dividend payout ratio (DPR) is 21.46%.

Analysts Set New Price Targets

FBIZ has been the subject of several research reports. Piper Sandler decreased their target price on 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. Keefe, Bruyette & Woods increased their price objective on First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded shares of 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, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $51.75.

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.