Geode Capital Management LLC Purchases 2,200 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

Geode Capital Management LLC increased its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,404 shares of the financial services provider’s stock after purchasing an additional 2,200 shares during the quarter. Geode Capital Management LLC owned approximately 2.09% of First Business Financial Services worth $7,907,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FBIZ. Segall Bryant & Hamill LLC bought a new position in shares of First Business Financial Services in the third quarter valued at $1,657,000. De Lisle Partners LLP lifted its holdings in shares of First Business Financial Services by 43.3% during the third quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock worth $3,040,000 after buying an additional 20,183 shares in the last quarter. First Business Financial Services Inc. grew its position in shares of 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 worth $16,682,000 after purchasing an additional 12,194 shares in the last quarter. Fourthstone LLC acquired a new position in First Business Financial Services in the 3rd quarter valued at $389,000. Finally, Barclays PLC lifted its position in First Business Financial Services by 43.8% during the third quarter. Barclays PLC now owns 27,909 shares of the financial services provider’s stock worth $1,273,000 after purchasing an additional 8,497 shares during the period. Institutional investors own 60.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Corey A. Chambas sold 40,000 shares of the firm’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 transaction, the chief executive officer now directly owns 112,750 shares of the company’s stock, valued at approximately $5,503,327.50. This trade represents a 26.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Kent Lorenz sold 1,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 8,341 shares of the company’s stock, valued at approximately $408,709. This represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,344 shares of company stock worth $2,275,144. 6.30% of the stock is owned by insiders.

First Business Financial Services Stock Down 2.7 %

Shares of NASDAQ FBIZ opened at $45.03 on Friday. The company’s fifty day simple moving average is $47.98 and its 200 day simple moving average is $43.87. First Business Financial Services, Inc. has a 12-month low of $32.56 and a 12-month high of $52.22. The firm has a market cap of $373.52 million, a PE ratio of 9.66 and a beta of 0.86. 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 (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $66.39 million during the quarter, compared to the consensus estimate of $38.80 million. During the same quarter last year, the firm posted $1.17 EPS. As a group, sell-side analysts forecast that First Business Financial Services, Inc. will post 4.78 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, November 7th. First Business Financial Services’s dividend payout ratio (DPR) is presently 21.46%.

Analyst Ratings Changes

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

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.