Russell Investments Group Ltd. Sells 900 Shares of First Business Financial Services, Inc. (NASDAQ:FBIZ)

Russell Investments Group Ltd. trimmed its holdings in First Business Financial Services, Inc. (NASDAQ:FBIZGet Rating) by 23.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,005 shares of the financial services provider’s stock after selling 900 shares during the quarter. Russell Investments Group Ltd.’s holdings in First Business Financial Services were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Lazard Asset Management LLC bought a new stake in First Business Financial Services during the 4th quarter worth about $26,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in First Business Financial Services by 9.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,266 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 868 shares during the last quarter. Kennedy Capital Management Inc. raised its holdings in First Business Financial Services by 10.1% during the 4th quarter. Kennedy Capital Management Inc. now owns 19,855 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 1,821 shares during the last quarter. Gator Capital Management LLC bought a new stake in First Business Financial Services during the 4th quarter worth about $694,000. Finally, American Century Companies Inc. raised its holdings in First Business Financial Services by 35.5% during the 4th quarter. American Century Companies Inc. now owns 24,221 shares of the financial services provider’s stock worth $707,000 after purchasing an additional 6,341 shares during the last quarter. 58.27% of the stock is owned by institutional investors.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ opened at $34.10 on Thursday. The stock has a market capitalization of $289.03 million, a P/E ratio of 7.77 and a beta of 0.75. First Business Financial Services, Inc. has a 1-year low of $26.57 and a 1-year high of $36.58. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.51. The business has a 50-day moving average price of $32.74 and a two-hundred day moving average price of $33.11.

First Business Financial Services (NASDAQ:FBIZGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The financial services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.38. The company had revenue of $30.53 million during the quarter, compared to analysts’ expectations of $29.15 million. First Business Financial Services had a return on equity of 16.22% and a net margin of 29.50%. Equities analysts predict that First Business Financial Services, Inc. will post 4.33 earnings per share for the current year.

First Business Financial Services Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Monday, August 8th were paid a $0.1975 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.32%. First Business Financial Services’s dividend payout ratio (DPR) is presently 18.00%.

Insider Activity

In related news, Director Gerald L. Kilcoyne purchased 5,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was bought at an average cost of $32.99 per share, with a total value of $164,950.00. Following the purchase, the director now directly owns 57,501 shares in the company, valued at approximately $1,896,957.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by company insiders.

About First Business Financial Services

(Get Rating)

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit, as well as credit cards.

Further Reading

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