Martingale Asset Management L P lowered its position in First Business Financial Services, Inc. (NASDAQ:FBIZ – Free Report) by 15.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,214 shares of the financial services provider’s stock after selling 2,308 shares during the quarter. Martingale Asset Management L P owned 0.15% of First Business Financial Services worth $557,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in First Business Financial Services by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock worth $19,893,000 after purchasing an additional 7,871 shares during the period. First Business Financial Services Inc. lifted its position in First Business Financial Services by 3.4% during the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock worth $16,682,000 after acquiring an additional 12,194 shares in the last quarter. Vanguard Group Inc. lifted its position in First Business Financial Services by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock worth $13,540,000 after acquiring an additional 7,499 shares in the last quarter. De Lisle Partners LLP raised its stake in shares of First Business Financial Services by 43.3% during the third quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock valued at $3,040,000 after purchasing an additional 20,183 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of First Business Financial Services by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock worth $1,402,000 after purchasing an additional 1,998 shares in the last quarter. Hedge funds and other institutional investors own 60.07% of the company’s stock.
Insider Transactions at First Business Financial Services
In other news, CEO James Edward Hartlieb sold 6,344 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $43.15, for a total transaction of $273,743.60. Following the completion of the transaction, the chief executive officer now owns 28,162 shares in the company, valued at approximately $1,215,190.30. This represents a 18.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the sale, the director now directly owns 8,341 shares in the company, valued at approximately $408,709. This trade represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,344 shares of company stock worth $2,275,144. 6.20% of the stock is currently owned by insiders.
First Business Financial Services Stock Performance
First Business Financial Services (NASDAQ:FBIZ – Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $66.39 million during the quarter, compared to analyst estimates of $38.80 million. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. During the same quarter last year, the firm earned $1.17 EPS. Equities analysts forecast that First Business Financial Services, Inc. will post 4.78 earnings per share for the current fiscal year.
First Business Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.01%. First Business Financial Services’s dividend payout ratio (DPR) is 21.46%.
Wall Street Analysts Forecast Growth
FBIZ has been the topic of several analyst reports. Piper Sandler dropped their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $50.00.
View Our Latest Stock Report on FBIZ
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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