Insider Buying: First Business Financial Services, Inc. (NASDAQ:FBIZ) Director Buys $47,870.00 in Stock

Key Points

• Director Jason R. Graham of First Business Financial Services purchased 1,000 shares at $47.87 each, increasing his ownership by 45.05% and bringing his total holdings to 3,220 shares.
• The company reported $1.35 earnings per share for its last quarter, meeting analysts' expectations, but fell short on revenue by reporting $41.04 million against an anticipated $41.55 million.
• First Business Financial Services announced a quarterly dividend of $0.29 per share, which is scheduled to be paid on August 25th, representing an annualized yield of 2.5% with a payout ratio of 20.64%.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) Director Jason R. Graham bought 1,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price 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 of the company's stock, valued at $154,141.40. This trade represents a 45.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

First Business Financial Services Stock Down 1.5%

Shares of First Business Financial Services stock traded down $0.73 during trading on Friday, hitting $46.89. 87,879 shares of the stock traded hands, compared to its average volume of 37,567. First Business Financial Services, Inc. has a twelve month low of $39.65 and a twelve month high of $56.46. The company has a fifty day moving average price of $50.20 and a two-hundred day moving average price of $49.39. The stock has a market cap of $390.12 million, a P/E ratio of 8.34 and a beta of 0.66. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.05 and a current ratio of 1.04.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.35 earnings per share for the quarter, hitting analysts' consensus estimates of $1.35. First Business Financial Services had a net margin of 17.59% and a return on equity of 14.22%. The business had revenue of $41.04 million during the quarter, compared to analysts' expectations of $41.55 million. Equities research analysts predict 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 announced 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 dividend on an annualized basis and a yield of 2.5%. First Business Financial Services's payout ratio is 20.64%.

Analysts Set New Price Targets

FBIZ has been the subject of several research reports. Piper Sandler raised their target price on First Business Financial Services from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of 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, Wall Street Zen raised First Business Financial Services from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $57.25.

Institutional Trading of First Business Financial Services

Hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its position in shares of First Business Financial Services by 48.7% during the 1st quarter. CWM LLC now owns 913 shares of the financial services provider's stock worth $43,000 after buying an additional 299 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of First Business Financial Services in the 4th quarter valued at $81,000. Virtus Investment Advisers Inc. bought a new stake in shares of First Business Financial Services in the 4th quarter worth about $95,000. BNP Paribas Financial Markets increased its position in shares of First Business Financial Services by 28.9% during the 4th quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider's stock worth $101,000 after purchasing an additional 490 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in First Business Financial Services during the 1st quarter valued at about $122,000. 60.07% of the stock is owned by institutional investors.

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.

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