17,624 Shares in First Business Financial Services, Inc. (NASDAQ:FBIZ) Purchased by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC has invested approximately $831,000 in First Business Financial Services, acquiring 17,624 shares and holding 0.21% of the company as of its latest SEC filing.
• Analysts have set conflicting price targets for First Business Financial Services, with Piper Sandler increasing its target from $55.00 to $58.00 while Keefe, Bruyette & Woods reduced it from $60.00 to $59.00.
• The company will pay a quarterly dividend of $0.29 on August 25th, representing an annualized yield of 2.3% and a payout ratio of 20.64%.

Informed Momentum Co LLC acquired a new position in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,624 shares of the financial services provider's stock, valued at approximately $831,000. Informed Momentum Co LLC owned approximately 0.21% of First Business Financial Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CWM LLC raised its position in shares of First Business Financial Services by 48.7% during the first quarter. CWM LLC now owns 913 shares of the financial services provider's stock worth $43,000 after purchasing an additional 299 shares during the period. Public Employees Retirement System of Ohio bought a new position in First Business Financial Services in the fourth quarter valued at approximately $81,000. Virtus Investment Advisers Inc. bought a new position in First Business Financial Services in the fourth quarter valued at approximately $95,000. BNP Paribas Financial Markets boosted its stake in shares of First Business Financial Services by 28.9% during the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider's stock worth $101,000 after acquiring an additional 490 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of First Business Financial Services during the 1st quarter worth approximately $122,000. Institutional investors and hedge funds own 60.07% of the company's stock.

Analysts Set New Price Targets

FBIZ has been the subject of several research analyst reports. Piper Sandler lifted their target price on First Business Financial Services from $55.00 to $58.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods lowered their price target on First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen raised First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th.

Insider Buying and Selling

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

First Business Financial Services Trading Down 0.5%

NASDAQ FBIZ traded down $0.27 during trading hours on Friday, hitting $49.54. 124,492 shares of the company's stock were exchanged, compared to its average volume of 37,291. The stock has a 50-day simple moving average of $50.19 and a 200 day simple moving average of $49.49. First Business Financial Services, Inc. has a 1-year low of $41.31 and a 1-year high of $56.46. The firm has a market cap of $412.17 million, a price-to-earnings ratio of 8.81 and a beta of 0.70. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.83.

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 EPS for the quarter, hitting the consensus estimate of $1.35. The business had revenue of $41.04 million during the quarter, compared to analysts' expectations of $41.55 million. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. On average, equities analysts forecast that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, August 11th. First Business Financial Services's dividend payout ratio (DPR) is currently 20.64%.

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.