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

First Business Financial Services, Inc. (NASDAQ:FBIZ) insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the sale, the insider now owns 7,718 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link.

First Business Financial Services Trading Down 1.1 %

Shares of First Business Financial Services stock opened at $54.47 on Tuesday. The firm has a 50-day simple moving average of $47.87 and a two-hundred day simple moving average of $45.93. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. First Business Financial Services, Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $56.46. The company has a market cap of $452.10 million, a P/E ratio of 10.43 and a beta of 0.88.

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%. As a group, equities analysts predict that First Business Financial Services, Inc. will post 5.38 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.13%. First Business Financial Services’s dividend payout ratio (DPR) is 19.16%.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in First Business Financial Services during the fourth quarter valued at $49,000. SG Americas Securities LLC acquired a new position in shares of First Business Financial Services during the 3rd quarter worth about $125,000. ERn Financial LLC purchased a new position in First Business Financial Services in the 3rd quarter valued at about $210,000. Creative Planning acquired a new stake in First Business Financial Services in the 3rd quarter worth about $216,000. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in First Business Financial Services in the 3rd quarter worth about $217,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

Analyst Upgrades and Downgrades

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