William Kent Lorenz Sells 1,000 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) Stock

First Business Financial Services, Inc. (NASDAQ:FBIZ) Director William Kent Lorenz sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were 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 owns 8,341 shares of the company’s stock, valued at approximately $408,709. This represents a 10.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

First Business Financial Services Price Performance

Shares of First Business Financial Services stock opened at $50.48 on Friday. The firm has a market cap of $418.98 million, a PE ratio of 10.83 and a beta of 0.83. First Business Financial Services, Inc. has a twelve month low of $32.56 and a twelve month high of $51.92. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. The business has a 50-day moving average price of $45.40 and a 200 day moving average price of $40.93.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data 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. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. The business had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. During the same period in the previous year, the business earned $1.17 earnings per share. Sell-side analysts predict that First Business Financial Services, Inc. will post 4.78 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, November 7th. First Business Financial Services’s payout ratio is 21.46%.

Analyst Ratings Changes

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

Institutional Trading of First Business Financial Services

Several institutional investors have recently modified their holdings of FBIZ. Lazard Asset Management LLC acquired a new stake in shares of First Business Financial Services in the first quarter worth approximately $60,000. SG Americas Securities LLC purchased a new stake in First Business Financial Services during the 3rd quarter valued at about $125,000. BNP Paribas Financial Markets grew its stake in First Business Financial Services by 73.1% during the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 1,659 shares in the last quarter. ERn Financial LLC acquired a new stake in First Business Financial Services in the 3rd quarter valued at about $210,000. Finally, Creative Planning purchased a new position in First Business Financial Services in the 3rd quarter worth approximately $216,000. Institutional investors and hedge funds own 60.07% 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.