5,479 Shares in First Business Financial Services, Inc. $FBIZ Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has invested approximately $258,000 in First Business Financial Services, acquiring 5,479 shares of its stock, representing about 0.07% ownership of the company.
• Piper Sandler raised its price target for First Business Financial Services from $55.00 to $58.00, reflecting a positive outlook with an "overweight" rating.
• The company announced a quarterly dividend of $0.29 per share, yielding 2.2%, with stockholders of record receiving the dividend on August 25th.

Cubist Systematic Strategies LLC acquired a new stake in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 5,479 shares of the financial services provider's stock, valued at approximately $258,000. Cubist Systematic Strategies LLC owned about 0.07% of First Business Financial Services at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in First Business Financial Services by 12.3% during the first quarter. Vanguard Group Inc. now owns 449,280 shares of the financial services provider's stock worth $21,184,000 after purchasing an additional 49,254 shares in the last quarter. American Century Companies Inc. increased its position in First Business Financial Services by 30.6% during the 1st quarter. American Century Companies Inc. now owns 146,230 shares of the financial services provider's stock worth $6,895,000 after purchasing an additional 34,250 shares during the period. Nuveen LLC acquired a new position in First Business Financial Services during the 1st quarter worth approximately $1,085,000. First Business Financial Services Inc. raised its stake in shares of First Business Financial Services by 4.7% during the 1st quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider's stock worth $18,569,000 after buying an additional 17,731 shares in the last quarter. Finally, Informed Momentum Co LLC acquired a new stake in shares of First Business Financial Services in the 1st quarter valued at approximately $831,000. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Trading Down 1.1%

FBIZ traded down $0.59 during midday trading on Tuesday, hitting $51.34. The company's stock had a trading volume of 7,755 shares, compared to its average volume of 35,860. First Business Financial Services, Inc. has a 52-week low of $41.47 and a 52-week high of $56.46. The firm has a 50-day moving average price of $50.91 and a two-hundred day moving average price of $49.21. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.83. The firm has a market cap of $427.15 million, a P/E ratio of 9.14 and a beta of 0.72.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. First Business Financial Services had a net margin of 17.59% and a return on equity of 14.22%. The business had revenue of $41.04 million for the quarter, compared to analysts' expectations of $41.55 million. On average, research analysts anticipate that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 11th. First Business Financial Services's dividend payout ratio (DPR) is 20.64%.

Insiders Place Their Bets

In other news, Director Jason R. Graham bought 1,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $47.87 per share, for a total transaction of $47,870.00. Following the acquisition, the director owned 3,220 shares of the company's stock, valued at $154,141.40. This trade represents a 45.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ralph R. Kauten bought 10,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $47.80 per share, with a total value of $478,000.00. Following the transaction, the director owned 29,756 shares in the company, valued at approximately $1,422,336.80. This represents a 50.62% increase in their position. The disclosure for this purchase can be found here. 5.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price target on First Business Financial Services from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, First Business Financial Services presently has a consensus rating of "Buy" and a consensus price target of $59.67.

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.