PDT Partners LLC Acquires New Position in First Business Financial Services, Inc. (NASDAQ:FBIZ)

PDT Partners LLC acquired a new stake in First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,773 shares of the financial services provider's stock, valued at approximately $267,000. PDT Partners LLC owned 0.07% of First Business Financial Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. R Squared Ltd purchased a new position in shares of First Business Financial Services during the fourth quarter valued at approximately $49,000. SG Americas Securities LLC grew its stake in shares of First Business Financial Services by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider's stock worth $158,000 after acquiring an additional 679 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of First Business Financial Services by 28.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,577 shares of the financial services provider's stock worth $212,000 after acquiring an additional 1,021 shares in the last quarter. First Trust Advisors LP bought a new position in shares of First Business Financial Services during the fourth quarter valued at about $232,000. Finally, Martingale Asset Management L P boosted its holdings in First Business Financial Services by 5.2% during the fourth quarter. Martingale Asset Management L P now owns 12,854 shares of the financial services provider's stock worth $595,000 after purchasing an additional 640 shares during the last quarter. Institutional investors own 60.07% of the company's stock.

Insider Buying and Selling at First Business Financial Services

In other news, insider Daniel Ovokaitys sold 4,828 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the transaction, the insider now directly owns 7,718 shares in the company, valued at approximately $421,016.90. This trade represents a 38.48 % decrease 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. Insiders own 5.10% of the company's stock.

First Business Financial Services Stock Performance

NASDAQ FBIZ traded down $0.37 during trading on Wednesday, hitting $48.03. 12,563 shares of the company's stock traded hands, compared to its average volume of 23,607. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The stock has a market capitalization of $399.56 million, a price-to-earnings ratio of 9.20 and a beta of 0.66. First Business Financial Services, Inc. has a 12-month low of $33.10 and a 12-month high of $56.46. The business has a 50 day moving average of $47.69 and a 200-day moving average of $48.28.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.03. The business had revenue of $40.84 million during the quarter, compared to analyst estimates of $40.13 million. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. As a group, equities research analysts anticipate that First Business Financial Services, Inc. will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.16 annualized dividend and a yield of 2.42%. First Business Financial Services's dividend payout ratio is currently 21.09%.

Analyst Ratings Changes

Several research firms have recently issued reports on FBIZ. Piper Sandler upped their target price on First Business Financial Services from $57.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Raymond James increased their price target on shares of First Business Financial Services from $52.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of First Business Financial Services from a "buy" rating to a "hold" rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, First Business Financial Services has a consensus rating of "Moderate Buy" and a consensus target price of $57.25.

First Business Financial Services 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.