Fourthstone LLC Purchases New Stake in First Business Financial Services, Inc. (NASDAQ:FBIZ)

Fourthstone LLC acquired a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,524 shares of the financial services provider’s stock, valued at approximately $389,000.

Several other hedge funds have also recently bought and sold shares of FBIZ. Segall Bryant & Hamill LLC acquired a new stake in shares of First Business Financial Services during the 3rd quarter worth approximately $1,657,000. De Lisle Partners LLP lifted its stake in 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 worth $3,040,000 after purchasing an additional 20,183 shares during the last quarter. First Business Financial Services Inc. boosted its holdings in shares of First Business Financial Services by 3.4% in the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock valued at $16,682,000 after purchasing an additional 12,194 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First Business Financial Services by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock valued at $19,893,000 after purchasing an additional 7,871 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 7,499 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

First Business Financial Services Trading Down 0.8 %

Shares of NASDAQ FBIZ traded down $0.42 during midday trading on Thursday, reaching $50.51. The stock had a trading volume of 13,404 shares, compared to its average volume of 16,687. First Business Financial Services, Inc. has a twelve month low of $32.56 and a twelve month high of $52.22. 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 company’s 50 day moving average price is $45.92 and its 200 day moving average price is $41.41. The firm has a market cap of $419.23 million, a price-to-earnings ratio of 10.84 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. During the same quarter in the prior year, the firm posted $1.17 earnings per share. As a group, sell-side analysts expect that First Business Financial Services, Inc. will post 4.78 EPS for the current year.

First Business Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders 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 annualized dividend and a dividend yield of 1.98%. First Business Financial Services’s dividend payout ratio is currently 21.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FBIZ shares. DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and lifted their target price for the company from $36.00 to $50.00 in a research report on Monday, August 5th. Piper Sandler dropped 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 research note on Tuesday, October 29th. Finally, StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $50.00.

Insider Activity at First Business Financial Services

In other news, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total value of $49,000.00. Following the completion of the sale, the director now directly owns 8,341 shares of the company’s stock, valued at $408,709. This represents a 10.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Edward Hartlieb sold 6,344 shares of First Business Financial Services stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $43.15, for a total value of $273,743.60. Following the transaction, the chief executive officer now directly owns 28,162 shares in the company, valued at approximately $1,215,190.30. The trade was a 18.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,344 shares of company stock valued at $2,275,144 in the last three months. Corporate insiders own 6.20% of the company’s stock.

First Business Financial Services Company 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.