First Business Financial Services, Inc. (FBIZ) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “

Other equities research analysts also recently issued reports about the company. DA Davidson began coverage on First Business Financial Services in a research report on Wednesday, November 23rd. They issued a neutral rating and a $24.00 price target on the stock. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of First Business Financial Services in a research report on Monday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $25.75.

Shares of First Business Financial Services (NASDAQ:FBIZ) traded up 0.40% during mid-day trading on Tuesday, reaching $25.21. The company’s stock had a trading volume of 8,951 shares. The stock has a market capitalization of $219.71 million, a P/E ratio of 14.74 and a beta of 0.86. First Business Financial Services has a 12 month low of $18.76 and a 12 month high of $25.94. The company has a 50 day moving average price of $24.25 and a 200 day moving average price of $22.89.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, January 26th. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. First Business Financial Services had a net margin of 15.37% and a return on equity of 9.36%. On average, equities research analysts anticipate that First Business Financial Services will post $1.77 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 10th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, February 8th. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.12. First Business Financial Services’s dividend payout ratio (DPR) is presently 30.59%.

In related news, insider Michael J. Losenegger sold 5,000 shares of the stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $24.32, for a total value of $121,600.00. Following the completion of the sale, the insider now owns 33,518 shares in the company, valued at $815,157.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charles H. Batson sold 2,085 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $23.67, for a total transaction of $49,351.95. Following the completion of the sale, the insider now owns 32,011 shares of the company’s stock, valued at approximately $757,700.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,835 shares of company stock valued at $430,892. 8.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio boosted its position in shares of First Business Financial Services by 16.3% in the third quarter. Strs Ohio now owns 5,000 shares of the financial services provider’s stock worth $117,000 after buying an additional 700 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of First Business Financial Services by 36.8% in the fourth quarter. Bessemer Group Inc. now owns 7,800 shares of the financial services provider’s stock worth $185,000 after buying an additional 2,100 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in shares of First Business Financial Services during the third quarter worth approximately $218,000. Russell Investments Group Ltd. acquired a new position in shares of First Business Financial Services during the fourth quarter worth approximately $343,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of First Business Financial Services during the second quarter worth approximately $391,000. Hedge funds and other institutional investors own 56.89% of the company’s stock.

First Business Financial Services Company Profile

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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