Insider Buying: First Business Financial Services, Inc. (NASDAQ:FBIZ) Director Buys 1,000 Shares of 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 purchased 1,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price 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 approximately $154,141.40. This trade represents a 45.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

First Business Financial Services Trading Down 1.5%

Shares of FBIZ stock traded down $0.69 during trading hours on Tuesday, reaching $46.28. 14,695 shares of the stock were exchanged, compared to its average volume of 37,438. The firm has a market capitalization of $385.01 million, a price-to-earnings ratio of 8.19 and a beta of 0.70. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.83. First Business Financial Services, Inc. has a 12-month low of $39.65 and a 12-month high of $56.46. The company's 50-day moving average price is $50.17 and its 200-day moving average price is $49.46.

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 earnings per share (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 company had revenue of $41.04 million during the quarter, compared to analysts' expectations of $41.55 million. As a group, equities analysts anticipate that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be issued a $0.29 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.5%. First Business Financial Services's payout ratio is currently 20.64%.

Analysts Set New Price Targets

A number of brokerages have commented on FBIZ. Wall Street Zen raised shares of First Business Financial Services from a "hold" rating to a "buy" rating in a research note 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. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $57.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of First Business Financial Services by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,477 shares of the financial services provider's stock worth $207,000 after acquiring an additional 206 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of First Business Financial Services by 11.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,883 shares of the financial services provider's stock worth $146,000 after acquiring an additional 288 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of First Business Financial Services by 2.1% during the 4th quarter. Hsbc Holdings PLC now owns 14,043 shares of the financial services provider's stock worth $655,000 after acquiring an additional 293 shares in the last quarter. CWM LLC grew its position in 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 purchasing an additional 299 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in First Business Financial Services by 0.6% during the 1st quarter. Federated Hermes Inc. now owns 70,279 shares of the financial services provider's stock worth $3,314,000 after purchasing an additional 401 shares during the last quarter. Institutional investors own 60.07% 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.