Pacific Ridge Capital Partners LLC Has $7.08 Million Stake 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 holdings in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the 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 about 1.9% of Pacific Ridge Capital Partners LLC's investment portfolio, making the stock its 12th largest position. Pacific Ridge Capital Partners LLC owned approximately 1.80% of First Business Financial Services worth $7,078,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of First Business Financial Services by 4.8% in the 4th 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. Two Sigma Investments LP increased its holdings in shares of First Business Financial Services by 28.6% during the 4th quarter. Two Sigma Investments LP now owns 19,076 shares of the financial services provider's stock worth $883,000 after purchasing an additional 4,242 shares during the period. Invesco Ltd. bought a new stake in First Business Financial Services in the fourth quarter valued at about $3,917,000. Wells Fargo & Company MN increased its stake 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 period. Finally, Public Employees Retirement System of Ohio bought a new stake in First Business Financial Services in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 60.07% of the company's stock.

Insider Buying and Selling at First Business Financial Services

In related news, Director Ralph R. Kauten acquired 10,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price 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. The trade was a 50.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jason R. Graham bought 1,000 shares of First Business Financial Services stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $47.87 per share, with a total value of $47,870.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. 5.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on FBIZ. Piper Sandler upped their target price on shares of 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. Keefe, Bruyette & Woods reduced their price target on shares of First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. 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 Trading Down 0.7%

NASDAQ FBIZ traded down $0.33 during trading hours on Wednesday, hitting $46.66. The company's stock had a trading volume of 2,360 shares, compared to its average volume of 37,389. The stock has a fifty day moving average of $50.13 and a 200 day moving average of $49.44. First Business Financial Services, Inc. has a twelve month low of $39.65 and a twelve month high of $56.46. The firm has a market capitalization of $388.31 million, a P/E ratio of 8.30 and a beta of 0.70. 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 issued its earnings results 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 net margin of 17.59% and a return on equity of 14.22%. The firm had revenue of $41.04 million during the quarter, compared to the consensus estimate of $41.55 million. Equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders 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 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.