Cubist Systematic Strategies LLC Invests $258,000 in First Business Financial Services, Inc. $FBIZ

Cubist Systematic Strategies LLC bought a new position in First Business Financial Services, Inc. (NASDAQ:FBIZ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,479 shares of the financial services provider’s stock, valued at approximately $258,000. Cubist Systematic Strategies LLC owned approximately 0.07% of First Business Financial Services at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Business Financial Services by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,477 shares of the financial services provider’s stock worth $207,000 after buying an additional 206 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of First Business Financial Services by 28.6% in the 4th quarter. Two Sigma Investments LP now owns 19,076 shares of the financial services provider’s stock worth $883,000 after buying an additional 4,242 shares in the last quarter. First Business Financial Services Inc. raised its holdings in shares of First Business Financial Services by 4.7% in the 1st quarter. First Business Financial Services Inc. now owns 393,819 shares of the financial services provider’s stock worth $18,569,000 after buying an additional 17,731 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in First Business Financial Services during the 4th quarter valued at $81,000. Finally, Citadel Advisors LLC acquired a new stake in First Business Financial Services during the 4th quarter valued at $248,000. 60.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on First Business Financial Services from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, First Business Financial Services presently has a consensus rating of “Buy” and an average target price of $59.67.

Insider Buying and Selling at First Business Financial Services

In other news, Director Ralph R. Kauten bought 10,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $47.80 per share, with a total value of $478,000.00. Following the purchase, the director owned 29,756 shares of the company’s stock, valued at approximately $1,422,336.80. This represents a 50.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jason R. Graham bought 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average cost of $47.87 per share, with a total value of $47,870.00. Following the completion of the purchase, the director directly owned 3,220 shares in the company, valued at approximately $154,141.40. This trade represents a 45.05% increase in their position. The disclosure for this purchase can be found here. 5.10% of the stock is currently owned by company insiders.

First Business Financial Services Trading Up 1.5%

FBIZ stock opened at $52.54 on Friday. The business has a fifty day moving average price of $51.00 and a 200 day moving average price of $49.26. First Business Financial Services, Inc. has a fifty-two week low of $41.47 and a fifty-two week high of $56.46. The stock has a market capitalization of $437.13 million, a price-to-earnings ratio of 9.35 and a beta of 0.72. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.04 and a quick ratio of 1.03.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, July 24th. The financial services provider reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $41.04 million during the quarter, compared to analysts’ expectations of $41.55 million. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. Analysts expect that First Business Financial Services, Inc. will post 5.43 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 11th. First Business Financial Services’s dividend payout ratio (DPR) is 20.64%.

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.