Insider Selling: First Business Financial Services, Inc. (NASDAQ:FBIZ) Insider Sells $263,367.40 in Stock

First Business Financial Services, Inc. (NASDAQ:FBIZ) insider Daniel Ovokaitys sold 4,828 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $54.55, for a total value of $263,367.40. Following the transaction, the insider now directly owns 7,718 shares in the company, valued at $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

First Business Financial Services Stock Performance

NASDAQ:FBIZ opened at $54.09 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The stock has a 50-day simple moving average of $48.07 and a two-hundred day simple moving average of $46.08. The firm has a market capitalization of $448.95 million, a PE ratio of 10.36 and a beta of 0.88. First Business Financial Services, Inc. has a 52-week low of $32.56 and a 52-week high of $56.46.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. Analysts forecast that First Business Financial Services, Inc. will post 5.38 EPS for the current year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.29 dividend. The ex-dividend date is Friday, February 14th. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.14%. First Business Financial Services’s dividend payout ratio is 19.16%.

Institutional Trading of First Business Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. boosted its holdings in First Business Financial Services by 1,646.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider’s stock worth $2,437,000 after buying an additional 49,628 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of First Business Financial Services in the third quarter valued at about $1,657,000. American Century Companies Inc. boosted its stake in shares of First Business Financial Services by 43.5% in the fourth quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock worth $5,184,000 after acquiring an additional 33,957 shares during the period. JPMorgan Chase & Co. grew its position in shares of First Business Financial Services by 104.4% during the fourth quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider’s stock worth $2,315,000 after purchasing an additional 25,550 shares in the last quarter. Finally, De Lisle Partners LLP raised 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 period. 60.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FBIZ shares. Piper Sandler increased their target price on First Business Financial Services from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Raymond James raised their price objective on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $58.75.

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.