17,624 Shares in First Business Financial Services, Inc. (NASDAQ:FBIZ) Acquired 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 stake in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 17,624 shares of the financial services provider's stock, valued at approximately $831,000. Informed Momentum Co LLC owned 0.21% of First Business Financial Services as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of First Business Financial Services by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,477 shares of the financial services provider's stock worth $207,000 after buying an additional 206 shares during the last quarter. Two Sigma Investments LP lifted its position in First Business Financial Services by 28.6% in the fourth quarter. Two Sigma Investments LP now owns 19,076 shares of the financial services provider's stock valued at $883,000 after acquiring an additional 4,242 shares during the last quarter. Wells Fargo & Company MN lifted its position in First Business Financial Services by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider's stock valued at $212,000 after acquiring an additional 1,021 shares during the last quarter. Invesco Ltd. purchased a new stake in First Business Financial Services in the fourth quarter valued at $3,917,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of First Business Financial Services in the 4th quarter valued at about $81,000. Hedge funds and other institutional investors own 60.07% of the company's stock.

Analyst Ratings Changes

FBIZ has been the subject of several research reports. Keefe, Bruyette & Woods reduced their target price 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. Piper Sandler upped their price target on shares of First Business Financial Services from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of First Business Financial Services from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th.

First Business Financial Services Stock Performance

Shares of First Business Financial Services stock traded down $0.27 during trading hours on Friday, hitting $49.54. 124,492 shares of the company were exchanged, compared to its average volume of 37,687. The stock has a market capitalization 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, Inc. has a 1 year low of $41.31 and a 1 year high of $56.46. The business has a 50-day moving average of $50.19 and a 200-day moving average of $49.49.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.35 earnings per share for the quarter, meeting the consensus estimate of $1.35. The firm had revenue of $41.04 million during the quarter, compared to the consensus estimate of $41.55 million. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. As a group, analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared 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 of this dividend is Monday, August 11th. First Business Financial Services's payout ratio is 20.64%.

Insiders Place Their Bets

In other First Business Financial Services news, Director Jason R. Graham bought 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 owned 3,220 shares of the company's stock, valued at $154,141.40. This trade represents a 45.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ralph R. Kauten acquired 10,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were bought at an average cost of $47.80 per share, with a total value of $478,000.00. Following the purchase, the director owned 29,756 shares in the company, valued at approximately $1,422,336.80. The trade was a 50.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.10% of the company's stock.

First Business Financial Services 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.