Key Points
- Insider sale: Jodi Chandler sold 675 FBIZ shares for approximately $47,378 at an average price of $70.19, reducing her direct holdings by 2.91% to 22,550 shares.
- Strong financial results: First Business Financial Services reported quarterly EPS of $1.84, beating estimates by $0.28, while revenue of $46.71 million also exceeded expectations.
- Positive investor outlook: Analysts maintain a consensus “Buy” rating with an average $75.50 price target, and the company pays a $0.34 quarterly dividend, yielding about 1.9%.
First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) insider Jodi Chandler sold 675 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the transaction, the insider directly owned 22,550 shares in the company, valued at approximately $1,582,784.50. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
First Business Financial Services Stock Performance
NASDAQ FBIZ opened at $70.85 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $593.01 million, a P/E ratio of 10.80 and a beta of 0.66. The stock has a 50-day moving average of $67.13 and a two-hundred day moving average of $60.13. First Business Financial Services, Inc. has a 1-year low of $46.07 and a 1-year high of $73.48.
First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.28. The firm had revenue of $46.71 million for the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. As a group, analysts anticipate that First Business Financial Services, Inc. will post 6.56 EPS for the current year.
First Business Financial Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 12th. First Business Financial Services's dividend payout ratio (DPR) is presently 20.73%.
Institutional Investors Weigh In On First Business Financial Services
Several institutional investors have recently added to or reduced their stakes in FBIZ. Vista Investment Management acquired a new stake in First Business Financial Services during the second quarter worth approximately $3,307,000. De Lisle Partners LLP purchased a new position in shares of First Business Financial Services in the 2nd quarter valued at $6,258,000. GSA Capital Partners LLP raised its stake in First Business Financial Services by 149.1% during the 4th quarter. GSA Capital Partners LLP now owns 30,210 shares of the financial services provider's stock worth $1,640,000 after acquiring an additional 18,083 shares in the last quarter. LSV Asset Management lifted its position in First Business Financial Services by 7.8% in the fourth quarter. LSV Asset Management now owns 134,127 shares of the financial services provider's stock valued at $7,283,000 after acquiring an additional 9,738 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in First Business Financial Services in the second quarter valued at $15,351,000. Hedge funds and other institutional investors own 60.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on FBIZ shares. Piper Sandler restated an "overweight" rating and set a $84.00 target price (up from $70.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. DA Davidson set a $80.00 price target on shares of First Business Financial Services and gave the stock a "buy" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Finally, Weiss Ratings raised shares of First Business Financial Services from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, First Business Financial Services has a consensus rating of "Buy" and an average price target of $75.50.
View Our Latest Stock Report on First Business Financial Services
About First Business Financial Services
(
Get Free Report)
First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.
In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.
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