CEO Corey A. Chambas of First Business Financial Services Sells Shares

The Chief Executive Officer of First Business Financial Services, Inc. (NASDAQ:FBIZ), Corey A. Chambas, recently sold 40,000 shares of the company’s stock. This transaction took place on November 7th, with the shares sold at an average price of $48.81 each, leading to a total sale amount of $1,952,400.00. After this sale, Chambas holds 112,750 shares of the company, which are currently valued at approximately $5,503,327.50. This trade resulted in no change to his overall ownership percentage, marking a 0.00% decrease.

Current Stock Performance

On the following trading day, First Business Financial Services stock opened at $48.12. The overall market capitalization of the firm is around $399.40 million. The stock currently has a price-to-earnings (PE) ratio of 10.33 and a beta of 0.83, indicating the stock's volatility relative to the market. Over the past year, the stock reached a low of $31.52 and a high of $50.22. Financial metrics reveal a quick ratio of 1.08, a current ratio of 1.09, and a debt-to-equity ratio of 1.16. In terms of stock trends, the 50-day moving average is recorded at $44.12, while the 200-day moving average stands at $39.84.

Earnings Report Overview

First Business Financial Services recently reported its earnings results for the quarter ending October 24th. The company achieved an earnings per share (EPS) of $1.24, exceeding analysts' expectations, which were set at $1.20. The firm indicated a net margin of 15.46% and a return on equity of 13.70%. Revenue for this period amounted to $66.39 million, considerably higher than the anticipated $38.80 million. Last year, during the same quarter, the company reported an EPS of $1.17. Analysts project that First Business Financial Services will achieve an EPS of 4.78 for the current fiscal year.

Dividend Announcements

The company has also declared a quarterly dividend of $0.25 per share, payable on November 20th. This payment is applicable for investors who were on record as of November 7th. With this dividend, First Business Financial Services offers an annualized dividend of $1.00, translating to a yield of 2.08%. The ex-dividend date corresponds with the record date of November 7th, and the company's payout ratio stands at 21.46%.

Brokerage Ratings Updates

Recently, several financial analysts adjusted their ratings on First Business Financial Services. Piper Sandler reduced their price target from $56.00 to $53.00 while maintaining an “overweight” rating. DA Davidson upgraded their rating from “neutral” to “buy” and revised their price target from $36.00 to $50.00. Meanwhile, Keefe, Bruyette & Woods reaffirmed their “outperform” rating and increased the price target to $51.00, up from $48.00. Additionally, StockNews.com elevated their rating on the stock from “hold” to “buy.” Currently, five analysts have indicated a “buy” rating for First Business Financial Services, with a consensus rating of “Buy” and an average target price set at $50.00.

Institutional Ownership Insights

Institutional investors have also been active in adjusting their positions in First Business Financial Services. For instance, Dimensional Fund Advisors LP raised its stake by 1.5% in the second quarter, holding a total of 537,808 shares valued at roughly $19.9 million. Similarly, First Business Financial Services Inc., which is a different entity, increased its stake by 3.4%, now owning 365,912 shares worth $16.68 million. Other institutions like Vanguard Group Inc. and Pacific Ridge Capital Partners LLC also enhanced their holdings within this financial services firm. Currently, institutional shareholders collectively own approximately 60.07% of First Business Financial Services' stock.

Company Background

First Business Financial Services, Inc. operates as the bank holding company for First Business Bank, offering a range of commercial banking products and services tailored to small and medium-sized businesses, business owners, executives, professionals, and high-net-worth individuals across Wisconsin, Kansas, and Missouri.

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