Corey A. Chambas Sells 40,000 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) Stock

First Business Financial Services, Inc. (NASDAQ:FBIZ) CEO Corey A. Chambas sold 40,000 shares of First Business Financial Services stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.81, for a total value of $1,952,400.00. Following the sale, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Business Financial Services Price Performance

Shares of First Business Financial Services stock traded down $1.82 during midday trading on Thursday, hitting $48.12. 67,553 shares of the company were exchanged, compared to its average volume of 15,993. The firm has a 50 day simple moving average of $44.12 and a 200-day simple moving average of $39.84. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market cap of $399.40 million, a P/E ratio of 10.33 and a beta of 0.83. First Business Financial Services, Inc. has a 52 week low of $31.52 and a 52 week high of $50.22.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. The company had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. During the same period last year, the business earned $1.17 earnings per share. Research analysts forecast that First Business Financial Services, Inc. will post 4.78 earnings per share for the current year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. First Business Financial Services’s dividend payout ratio (DPR) is presently 21.46%.

Institutional Trading of First Business Financial Services

Large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew 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 acquiring an additional 7,871 shares during the last quarter. First Business Financial Services Inc. grew its holdings in shares of First Business Financial Services by 3.4% during the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock worth $16,682,000 after purchasing an additional 12,194 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of First Business Financial Services by 2.1% in the first quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock valued at $13,540,000 after buying an additional 7,499 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of First Business Financial Services by 1.7% in the first quarter. Pacific Ridge Capital Partners LLC now owns 169,903 shares of the financial services provider’s stock valued at $6,371,000 after buying an additional 2,894 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in First Business Financial Services by 7.8% during the 1st quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock worth $1,541,000 after buying an additional 2,975 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FBIZ shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $50.00 in a research note on Monday, August 5th. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler reduced their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, First Business Financial Services currently has a consensus rating of “Buy” and an average target price of $50.00.

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.