First Business Financial Services, Inc. $FBIZ Stake Lowered by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P reduced its holdings in First Business Financial Services by 38.5%, selling 4,953 shares and now holding 7,901 shares worth $373,000.
• Director Jason R. Graham increased his ownership by 45.05% after purchasing 1,000 shares, while Director Ralph R. Kauten bought 10,000 shares, increasing his stake by 50.62%.
• Analysts have mixed views on FBIZ, with Piper Sandler raising the price target to $58.00, while Keefe, Bruyette & Woods lowered theirs to $59.00, but the overall rating for the stock remains a consensus of "Buy".

Martingale Asset Management L P trimmed its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 38.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,901 shares of the financial services provider's stock after selling 4,953 shares during the period. Martingale Asset Management L P owned approximately 0.09% of First Business Financial Services worth $373,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. EntryPoint Capital LLC acquired a new position in First Business Financial Services during the 1st quarter valued at about $255,000. Hsbc Holdings PLC increased its stake in shares of First Business Financial Services by 4.0% during the first quarter. Hsbc Holdings PLC now owns 14,599 shares of the financial services provider's stock valued at $689,000 after acquiring an additional 556 shares during the period. American Century Companies Inc. increased its stake in shares of First Business Financial Services by 30.6% during the first quarter. American Century Companies Inc. now owns 146,230 shares of the financial services provider's stock valued at $6,895,000 after acquiring an additional 34,250 shares during the period. Informed Momentum Co LLC acquired a new position in shares of First Business Financial Services during the 1st quarter valued at $831,000. Finally, Nuveen LLC acquired a new position in shares of First Business Financial Services during the 1st quarter valued at $1,085,000. Institutional investors and hedge funds own 60.07% of the company's stock.

Insider Activity at First Business Financial Services

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

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ traded down $0.06 during mid-day trading on Friday, reaching $52.32. The company had a trading volume of 23,174 shares, compared to its average volume of 32,122. 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 stock has a market cap of $435.30 million, a PE ratio of 9.31 and a beta of 0.72. The company has a 50-day moving average price of $50.83 and a two-hundred day moving average price of $49.27. First Business Financial Services, Inc. has a 1-year low of $41.31 and a 1-year high of $56.46.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.35. The business had revenue of $41.04 million for 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 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 business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.16 dividend on an annualized basis and a yield of 2.2%. First Business Financial Services's dividend payout ratio (DPR) is currently 20.64%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on FBIZ shares. Wall Street Zen raised First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Piper Sandler lifted their price objective on shares of 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. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $59.67.

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.