Cubist Systematic Strategies LLC Takes Position in First Business Financial Services, Inc. $FBIZ

Cubist Systematic Strategies LLC acquired a new position in shares of First Business Financial Services, Inc. (NASDAQ:FBIZ) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,479 shares of the financial services provider’s stock, valued at approximately $258,000.

Other institutional investors have also made changes to their positions in the company. CWM LLC grew its stake in shares of First Business Financial Services by 48.7% during the first quarter. CWM LLC now owns 913 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 299 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of First Business Financial Services during the fourth quarter worth $81,000. Virtus Investment Advisers Inc. acquired a new stake in shares of First Business Financial Services during the fourth quarter worth $95,000. BNP Paribas Financial Markets grew its stake in shares of First Business Financial Services by 28.9% during the fourth quarter. BNP Paribas Financial Markets now owns 2,183 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 490 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of First Business Financial Services during the first quarter worth $122,000. 60.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price objective on First Business Financial Services from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $59.67.

Insider Activity

In other First Business Financial Services news, Director Jason R. Graham bought 1,000 shares of First Business Financial Services stock in a transaction on Wednesday, July 30th. The shares were purchased at an average cost of $47.87 per share, for a total transaction of $47,870.00. Following the completion of the acquisition, the director owned 3,220 shares in the company, valued at approximately $154,141.40. The trade was a 45.05% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ralph R. Kauten purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $47.80 per share, for a total transaction of $478,000.00. Following the completion of the acquisition, the director owned 29,756 shares of the company’s stock, valued at approximately $1,422,336.80. This represents a 50.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.10% of the company’s stock.

First Business Financial Services Stock Performance

FBIZ stock opened at $52.54 on Friday. The business’s 50-day moving average price is $51.00 and its two-hundred day moving average price is $49.26. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 0.83. The firm has a market cap of $437.13 million, a PE ratio of 9.35 and a beta of 0.72. First Business Financial Services, Inc. has a 1-year low of $41.47 and a 1-year high of $56.46.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, July 24th. The financial services provider reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. The firm had revenue of $41.04 million for the quarter, compared to analyst estimates of $41.55 million. First Business Financial Services had a return on equity of 14.22% and a net margin of 17.59%. As a group, research analysts forecast that First Business Financial Services, Inc. will post 5.43 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, August 11th. This represents a $1.16 annualized dividend and a yield of 2.2%. First Business Financial Services’s payout ratio is currently 20.64%.

First Business Financial Services Profile

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 in Wisconsin, Kansas, and Missouri.