First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC trimmed its position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 25.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,084 shares of the financial services provider’s stock after selling 3,160 shares during the quarter. Riverwater Partners LLC owned 0.11% of First Business Financial Services worth $421,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in First Business Financial Services by 24.8% during the 4th quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 679 shares during the period. R Squared Ltd acquired a new position in First Business Financial Services during the fourth quarter worth $49,000. Bank of New York Mellon Corp grew its holdings in First Business Financial Services by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 33,109 shares of the financial services provider’s stock worth $1,533,000 after acquiring an additional 1,653 shares during the period. Empowered Funds LLC raised its position in First Business Financial Services by 5.0% in the fourth quarter. Empowered Funds LLC now owns 45,021 shares of the financial services provider’s stock worth $2,084,000 after acquiring an additional 2,156 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of First Business Financial Services by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock worth $7,907,000 after purchasing an additional 2,200 shares in the last quarter. 60.07% of the stock is owned by hedge funds and other institutional investors.

First Business Financial Services Trading Down 0.4 %

Shares of FBIZ opened at $44.47 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. First Business Financial Services, Inc. has a 1-year low of $32.56 and a 1-year high of $56.46. The stock has a market cap of $369.15 million, a price-to-earnings ratio of 8.52 and a beta of 0.88. The firm has a 50 day simple moving average of $50.37 and a 200-day simple moving average of $47.77.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. Equities analysts forecast that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.25. This represents a $1.16 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Friday, February 14th. First Business Financial Services’s dividend payout ratio (DPR) is currently 22.22%.

Insider Transactions at First Business Financial Services

In other news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the sale, the insider now owns 7,718 shares of the company’s stock, valued at $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FBIZ shares. Piper Sandler increased their price target on shares of First Business Financial Services from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Raymond James raised their price objective on First Business Financial Services from $52.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $58.75.

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.