First Business Financial Services (NASDAQ:FBIZ) Insider Sells 675 Shares of Stock

Key Points

• Insider sale: Jodi Chandler sold 675 First Business Financial Services shares for approximately $47,378, reducing her direct holdings by 2.91% to 22,550 shares.
• Strong financial performance: FBIZ reported quarterly EPS of $1.84, beating estimates of $1.56, while revenue of $46.71 million also exceeded expectations.
• Positive outlook: Analysts maintain a consensus “Buy” rating with an average price target of $75.50; the company also pays a quarterly dividend of $0.34, yielding about 1.9%.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) insider Jodi Chandler sold 675 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $70.19, for a total transaction of $47,378.25. Following the sale, the insider directly owned 22,550 shares in the company, valued at $1,582,784.50. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

First Business Financial Services Stock Up 0.0%

Shares of NASDAQ FBIZ traded up $0.03 on Friday, reaching $70.85. 62,764 shares of the company's stock traded hands, compared to its average volume of 44,481. First Business Financial Services, Inc. has a 12 month low of $46.07 and a 12 month high of $73.48. The business's 50 day simple moving average is $66.92 and its two-hundred day simple moving average is $60.06. The company has a market cap of $593.01 million, a price-to-earnings ratio of 10.80 and a beta of 0.66. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.28. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%.The firm had revenue of $46.71 million for the quarter, compared to analysts' expectations of $45.42 million. As a group, equities research analysts forecast that First Business Financial Services, Inc. will post 6.56 EPS for the current fiscal year.

First Business Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $1.36 annualized dividend and a yield of 1.9%. First Business Financial Services's dividend payout ratio is 20.73%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings upgraded First Business Financial Services from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, June 15th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. DA Davidson set a $80.00 target price on First Business Financial Services and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $75.50.

Institutional Trading of First Business Financial Services

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of First Business Financial Services by 1,530.7% during the 2nd quarter. California State Teachers Retirement System now owns 7,012 shares of the financial services provider's stock valued at $443,000 after purchasing an additional 6,582 shares during the last quarter. Empowered Funds LLC purchased a new stake in First Business Financial Services during the second quarter valued at approximately $2,853,000. Bank of America Corp DE bought a new position in First Business Financial Services in the second quarter worth approximately $1,515,000. Man Group plc purchased a new position in shares of First Business Financial Services during the 2nd quarter worth $544,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of First Business Financial Services in the 2nd quarter worth $404,000. Hedge funds and other institutional investors own 60.07% of the company's stock.

About First Business Financial Services

First Business Financial Services, Inc NASDAQ: FBIZ is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.

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