First Business Financial Services Inc. Sells 7,971 Shares of First Business Financial Services, Inc. (FBIZ)

First Business Financial Services Inc. cut its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,813 shares of the financial services provider’s stock after selling 7,971 shares during the period. First Business Financial Services makes up about 1.8% of First Business Financial Services Inc.’s investment portfolio, making the stock its 10th largest holding. First Business Financial Services Inc. owned about 4.48% of First Business Financial Services worth $8,871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FBIZ. Vanguard Group Inc. boosted its position in shares of First Business Financial Services by 61.9% during the second quarter. Vanguard Group Inc. now owns 334,887 shares of the financial services provider’s stock worth $7,729,000 after buying an additional 128,039 shares during the period. Northern Trust Corp boosted its position in shares of First Business Financial Services by 101.5% during the second quarter. Northern Trust Corp now owns 166,871 shares of the financial services provider’s stock worth $3,851,000 after buying an additional 84,058 shares during the period. Banc Funds Co. LLC boosted its position in shares of First Business Financial Services by 3.0% during the second quarter. Banc Funds Co. LLC now owns 786,198 shares of the financial services provider’s stock worth $18,145,000 after buying an additional 22,770 shares during the period. State Street Corp boosted its position in shares of First Business Financial Services by 13.5% during the second quarter. State Street Corp now owns 150,856 shares of the financial services provider’s stock worth $3,481,000 after buying an additional 17,984 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of First Business Financial Services by 8.1% during the first quarter. Dimensional Fund Advisors LP now owns 218,505 shares of the financial services provider’s stock worth $5,672,000 after buying an additional 16,463 shares during the period. Institutional investors and hedge funds own 60.12% of the company’s stock.

Several brokerages have recently issued reports on FBIZ. Zacks Investment Research downgraded First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $25.00 price objective on shares of First Business Financial Services in a research report on Tuesday, October 3rd. Finally, TheStreet downgraded First Business Financial Services from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $24.50.

In other news, Director Jerome J. Smith sold 1,475 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $21.40, for a total transaction of $31,565.00. Following the sale, the director now directly owns 1,250 shares of the company’s stock, valued at $26,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerome J. Smith sold 1,250 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $21.17, for a total transaction of $26,462.50. The disclosure for this sale can be found here. Insiders have sold 5,025 shares of company stock worth $106,903 over the last ninety days. Insiders own 6.60% of the company’s stock.

Shares of First Business Financial Services, Inc. (FBIZ) traded down 0.75% during midday trading on Monday, reaching $22.40. The company had a trading volume of 1,513 shares. First Business Financial Services, Inc. has a 12 month low of $18.76 and a 12 month high of $28.43. The company has a market capitalization of $195.22 million, a P/E ratio of 16.37 and a beta of 0.95. The firm’s 50 day moving average price is $22.25 and its 200-day moving average price is $22.99.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.14). The firm had revenue of $19.22 million for the quarter, compared to the consensus estimate of $20.00 million. First Business Financial Services had a return on equity of 7.23% and a net margin of 12.63%. Analysts anticipate that First Business Financial Services, Inc. will post $1.50 earnings per share for the current fiscal year.

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About First Business Financial Services

First Business Financial Services, Inc (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks).

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

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