Pacific Ridge Capital Partners LLC Reduces Stock Holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Key Points

• Pacific Ridge Capital Partners LLC has decreased its holdings in First Business Financial Services, Inc. by 4.8%, selling 7,638 shares in the first quarter, which now accounts for 1.9% of their portfolio.
• First Business Financial Services recently announced a quarterly dividend of $0.29 per share, with a dividend yield of 2.5%, set to be paid on August 25th.
• Institutional investors currently own 60.07% of First Business Financial Services, with major stakeholders like Invesco Ltd. and American Century Companies Inc. adjusting their positions in the stock.

Pacific Ridge Capital Partners LLC decreased its position in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,123 shares of the financial services provider's stock after selling 7,638 shares during the quarter. First Business Financial Services accounts for 1.9% of Pacific Ridge Capital Partners LLC's portfolio, making the stock its 12th largest position. Pacific Ridge Capital Partners LLC owned about 1.80% of First Business Financial Services worth $7,078,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Business Financial Services by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,477 shares of the financial services provider's stock valued at $207,000 after purchasing an additional 206 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of First Business Financial Services by 2.1% during the fourth quarter. Hsbc Holdings PLC now owns 14,043 shares of the financial services provider's stock valued at $655,000 after acquiring an additional 293 shares in the last quarter. CWM LLC raised its holdings 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 valued at $43,000 after acquiring an additional 299 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of First Business Financial Services by 0.6% during the first quarter. Federated Hermes Inc. now owns 70,279 shares of the financial services provider's stock valued at $3,314,000 after acquiring an additional 401 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of First Business Financial Services by 28.9% during the fourth quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider's stock valued at $101,000 after acquiring an additional 490 shares in the last quarter. Institutional investors own 60.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods decreased their price objective 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, Piper Sandler increased their price objective on First Business Financial Services from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $57.25.

First Business Financial Services Stock Up 0.1%

Shares of NASDAQ FBIZ traded up $0.07 during trading on Monday, reaching $46.96. The company had a trading volume of 41,971 shares, compared to its average volume of 37,597. First Business Financial Services, Inc. has a 12-month low of $39.65 and a 12-month high of $56.46. The stock has a market cap of $390.71 million, a PE ratio of 8.36 and a beta of 0.70. The business's 50-day moving average is $50.19 and its 200 day moving average is $49.45. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.83.

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 EPS for the quarter, meeting the consensus estimate of $1.35. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. The company had revenue of $41.04 million for the quarter, compared to analysts' expectations of $41.55 million. As a group, equities analysts forecast that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.5%. First Business Financial Services's dividend payout ratio (DPR) is 20.64%.

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, Director Ralph R. Kauten acquired 10,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 29,756 shares of the company's stock, valued at approximately $1,422,336.80. This represents a 50.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason R. Graham acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average cost of $47.87 per share, for a total transaction of $47,870.00. Following the completion of the transaction, the director directly owned 3,220 shares of the company's stock, valued at $154,141.40. The trade was a 45.05% 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 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.