Wells Fargo & Company MN cut its holdings in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) by 63.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,591 shares of the financial services provider’s stock after selling 60,945 shares during the quarter. Wells Fargo & Company MN owned about 0.40% of First Business Financial Services worth $798,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. First Business Financial Services Inc. lifted its holdings in shares of First Business Financial Services by 0.8% during the second quarter. First Business Financial Services Inc. now owns 398,784 shares of the financial services provider’s stock worth $9,204,000 after buying an additional 3,250 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 last quarter. Renaissance Technologies LLC lifted its holdings in shares of First Business Financial Services by 6.1% during the first quarter. Renaissance Technologies LLC now owns 163,900 shares of the financial services provider’s stock worth $4,255,000 after buying an additional 9,378 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in shares of First Business Financial Services by 6.5% during the second quarter. Federated Investors Inc. PA now owns 61,778 shares of the financial services provider’s stock worth $1,426,000 after buying an additional 3,758 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of First Business Financial Services by 3.7% during the first quarter. Geode Capital Management LLC now owns 59,418 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 2,118 shares during the last quarter. Institutional investors own 59.18% of the company’s stock.

First Business Financial Services, Inc. (FBIZ) opened at $22.05 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.08 and a current ratio of 1.08. First Business Financial Services, Inc. has a 12 month low of $18.78 and a 12 month high of $28.43. The stock has a market capitalization of $192.80, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.14). First Business Financial Services had a return on equity of 7.20% and a net margin of 12.63%. The company had revenue of $19.22 million for the quarter, compared to analyst estimates of $20.00 million. equities analysts anticipate that First Business Financial Services, Inc. will post 1.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.52 annualized dividend and a yield of 2.36%. First Business Financial Services’s dividend payout ratio is currently 37.96%.

In other news, Director Jerome J. Smith sold 1,250 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $21.17, for a total transaction of $26,462.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John J. Harris bought 2,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were acquired at an average price of $22.52 per share, for a total transaction of $45,040.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $225,200. The disclosure for this purchase can be found here. Corporate insiders own 6.60% of the company’s stock.

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A number of research analysts have recently commented on FBIZ shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $25.00 price target on shares of First Business Financial Services in a report on Tuesday, October 3rd. Zacks Investment Research lowered First Business Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. ValuEngine upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, TheStreet lowered First Business Financial Services from a “b” rating to a “c+” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.50.

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).

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

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