Daniel Ovokaitys Sells 4,828 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) Stock

First Business Financial Services, Inc. (NASDAQ:FBIZ) insider Daniel Ovokaitys sold 4,828 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $54.55, for a total transaction of $263,367.40. Following the completion of the sale, the insider now directly owns 7,718 shares of the company’s stock, valued at $421,016.90. The trade was a 38.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First Business Financial Services Price Performance

NASDAQ FBIZ opened at $55.45 on Wednesday. First Business Financial Services, Inc. has a 52 week low of $32.56 and a 52 week high of $56.46. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock has a market cap of $460.24 million, a price-to-earnings ratio of 10.62 and a beta of 0.88. The company has a 50-day moving average price of $47.96 and a two-hundred day moving average price of $46.01.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. Analysts forecast that First Business Financial Services, Inc. will post 5.38 EPS for the current year.

First Business Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. 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 2.09%. First Business Financial Services’s dividend payout ratio (DPR) is 19.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Business Financial Services Inc. boosted its holdings in shares of First Business Financial Services by 2.8% in the fourth quarter. First Business Financial Services Inc. now owns 376,088 shares of the financial services provider’s stock valued at $17,409,000 after acquiring an additional 10,176 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of First Business Financial Services by 1.3% in the third quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock valued at $7,907,000 after acquiring an additional 2,200 shares in the last quarter. State Street Corp boosted its holdings in shares of First Business Financial Services by 1.9% in the third quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock valued at $6,232,000 after acquiring an additional 2,607 shares in the last quarter. American Century Companies Inc. lifted its stake in First Business Financial Services by 43.5% during the fourth quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock valued at $5,184,000 after purchasing an additional 33,957 shares during the last quarter. Finally, 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 valued at $3,040,000 after purchasing an additional 20,183 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.