First Business Financial Services Inc (NASDAQ:FBIZ) Sees Significant Drop in Short Interest

First Business Financial Services Inc (NASDAQ:FBIZ) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 25,200 shares, a decline of 19.2% from the September 30th total of 31,200 shares. Based on an average daily volume of 17,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.3% of the shares of the stock are short sold.

In related news, insider Michael J. Losenegger sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $24.02, for a total value of $36,030.00. Following the completion of the transaction, the insider now owns 29,924 shares of the company’s stock, valued at approximately $718,774.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FBIZ. Tower Research Capital LLC TRC boosted its stake in shares of First Business Financial Services by 1,849.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,949 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,849 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of First Business Financial Services during the 2nd quarter valued at approximately $118,000. Rhumbline Advisers boosted its stake in shares of First Business Financial Services by 9.7% during the 3rd quarter. Rhumbline Advisers now owns 12,656 shares of the financial services provider’s stock valued at $305,000 after buying an additional 1,122 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of First Business Financial Services by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 13,636 shares of the financial services provider’s stock valued at $320,000 after buying an additional 867 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of First Business Financial Services by 60.1% during the 2nd quarter. Acadian Asset Management LLC now owns 20,083 shares of the financial services provider’s stock valued at $471,000 after buying an additional 7,542 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

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Shares of NASDAQ FBIZ traded up $0.02 on Friday, reaching $24.48. 12,700 shares of the company traded hands, compared to its average volume of 13,346. The stock has a market capitalization of $210.27 million, a PE ratio of 13.16 and a beta of 0.82. First Business Financial Services has a fifty-two week low of $18.76 and a fifty-two week high of $25.92. The company has a 50 day moving average of $24.36 and a 200 day moving average of $23.68. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 1.80.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.07. The firm had revenue of $22.57 million during the quarter, compared to analysts’ expectations of $22.80 million. First Business Financial Services had a return on equity of 11.60% and a net margin of 17.75%. As a group, research analysts expect that First Business Financial Services will post 2.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Friday, November 1st. First Business Financial Services’s dividend payout ratio (DPR) is currently 32.26%.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of First Business Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 31st. ValuEngine downgraded shares of First Business Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th.

About First Business Financial Services

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.

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