The Manufacturers Life Insurance Company Sells 11,641 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

The Manufacturers Life Insurance Company cut its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZFree Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 287,596 shares of the financial services provider’s stock after selling 11,641 shares during the period. The Manufacturers Life Insurance Company owned about 3.46% of First Business Financial Services worth $11,533,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. 1834 Investment Advisors Co. bought a new position in First Business Financial Services during the 4th quarter valued at about $257,000. Pacific Ridge Capital Partners LLC grew its holdings in First Business Financial Services by 2.7% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 169,134 shares of the financial services provider’s stock valued at $5,076,000 after purchasing an additional 4,513 shares during the last quarter. Federated Hermes Inc. grew its holdings in First Business Financial Services by 3.9% during the 4th quarter. Federated Hermes Inc. now owns 65,483 shares of the financial services provider’s stock valued at $2,626,000 after purchasing an additional 2,444 shares during the last quarter. New York State Common Retirement Fund grew its holdings in First Business Financial Services by 70.7% during the 4th quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Uncommon Cents Investing LLC grew its holdings in First Business Financial Services by 4.3% during the 4th quarter. Uncommon Cents Investing LLC now owns 36,255 shares of the financial services provider’s stock valued at $1,454,000 after purchasing an additional 1,485 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors.

Insider Transactions at First Business Financial Services

In other news, Director William Kent Lorenz sold 1,345 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $34.51, for a total value of $46,415.95. Following the completion of the sale, the director now owns 9,836 shares of the company’s stock, valued at approximately $339,440.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reiterated an “overweight” rating and set a $44.00 price target on shares of First Business Financial Services in a report on Monday, March 18th.

View Our Latest Analysis on First Business Financial Services

First Business Financial Services Price Performance

First Business Financial Services stock opened at $33.48 on Tuesday. The stock has a market cap of $277.55 million, a price-to-earnings ratio of 7.71 and a beta of 0.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.09 and a quick ratio of 1.09. First Business Financial Services, Inc. has a 1 year low of $28.35 and a 1 year high of $41.03. The firm has a 50-day moving average of $34.33 and a two-hundred day moving average of $35.68.

First Business Financial Services (NASDAQ:FBIZGet Free Report) last released its quarterly earnings data on Friday, April 26th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.09). The company had revenue of $62.54 million during the quarter, compared to analysts’ expectations of $37.47 million. First Business Financial Services had a net margin of 15.48% and a return on equity of 13.51%. On average, research analysts forecast that First Business Financial Services, Inc. will post 4.52 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Thursday, May 9th were given a $0.25 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.99%. First Business Financial Services’s payout ratio is presently 23.04%.

About First Business Financial Services

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for First Business Financial Services (NASDAQ:FBIZ)

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