First Business Financial Services, Inc. (NASDAQ:FBIZ) Director Buys $478,000.00 in Stock

Key Points

• Director Ralph R. Kauten of First Business Financial Services purchased 10,000 shares at an average cost of $47.80 per share, totaling $478,000 and increasing his ownership by 50.62%.
• The company reported quarterly earnings of $1.35 per share, meeting analyst expectations, with a revenue of $41.04 million, slightly below the forecast of $41.55 million.
• First Business Financial Services announced a quarterly dividend of $0.29 per share, reflecting an annualized dividend yield of 2.5%, to be paid on August 25th.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) Director Ralph R. Kauten bought 10,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were acquired 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 directly owned 29,756 shares in the company, valued at approximately $1,422,336.80. This trade represents a 50.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

First Business Financial Services Stock Down 1.5%

Shares of FBIZ traded down $0.69 during trading hours on Tuesday, hitting $46.28. The company had a trading volume of 14,695 shares, compared to its average volume of 37,438. The firm has a fifty day moving average price of $50.17 and a 200-day moving average price of $49.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a market capitalization of $385.01 million, a price-to-earnings ratio of 8.19 and a beta of 0.70. First Business Financial Services, Inc. has a 52-week low of $39.65 and a 52-week high of $56.46.

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, hitting the consensus estimate of $1.35. The company 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%. On average, equities research analysts forecast that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FBIZ shares. Keefe, Bruyette & Woods decreased their price target on 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. Piper Sandler boosted 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. Finally, Wall Street Zen raised First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $57.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FBIZ. Invesco Ltd. purchased a new stake in shares of First Business Financial Services during the 4th quarter worth approximately $3,917,000. Vanguard Group Inc. raised its holdings in shares of First Business Financial Services by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 449,280 shares of the financial services provider's stock worth $21,184,000 after acquiring an additional 49,254 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of First Business Financial Services by 30.6% during the 1st quarter. American Century Companies Inc. now owns 146,230 shares of the financial services provider's stock worth $6,895,000 after acquiring an additional 34,250 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Business Financial Services by 104.4% during the 4th quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider's stock worth $2,315,000 after acquiring an additional 25,550 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of First Business Financial Services during the 1st quarter worth approximately $1,085,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

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.