MADISON, WI – In a recent transaction, William Kent Lorenz, a director at First Business Financial (NASDAQ:FBIZ) Services, Inc. (NASDAQ:FBIZ), sold shares of the company's common stock, according to a Form 4 filing with the Securities and Exchange Commission.
The transaction involved the sale of a total of 1,425 shares of First Business Financial Services stock, with prices ranging from $34.51 to $35.00 per share. The total value of the shares sold amounted to approximately $49,215. The sales took place on May 10 and May 13, 2024.
Following these transactions, Lorenz's direct holdings in the company decreased, but he still maintains a significant stake. The report includes a footnote indicating that his ownership includes shares held in a revocable living trust for the benefit of Lorenz and his spouse, where they are co-trustees, as well as shares held in his IRA.
Investors often monitor insider sales for insights into a company's performance and management's view of the firm's value. Such sales can vary in motivation and are not necessarily indicative of a negative outlook.
First Business Financial Services, Inc., headquartered at 401 Charmany Drive in Madison, operates as a state commercial bank and serves its customers with a variety of financial services.
The transactions were executed under the company's ticker, NASDAQ:FBIZ, and the details of the sale are now publicly accessible for shareholders and potential investors to review.
InvestingPro Insights
As investors dissect the recent insider sales at First Business Financial Services, Inc. (FBIZ), it's essential to consider the broader financial context provided by InvestingPro metrics and tips. The company's adjusted market cap stands at $283.64 million, and it exhibits a Price/Earnings (P/E) ratio of 7.89, which slightly increased to 8.08 over the last twelve months as of Q1 2024. This valuation metric suggests a potentially attractive entry point for value investors when compared to industry peers.
First Business Financial Services has a history of rewarding shareholders, as evidenced by a dividend yield of 2.94% as of the most recent data, and has raised its dividend for 11 consecutive years, showcasing a commitment to consistent shareholder returns. Additionally, the company has maintained dividend payments for two decades, reflecting a stable financial position and a reliable income stream for investors. This is particularly relevant for those with a long-term investment horizon.
However, it's worth noting that five analysts have revised their earnings downwards for the upcoming period, which may warrant caution. Despite this, analysts predict the company will be profitable this year, aligning with the demonstrated profitability over the last twelve months. These mixed signals underscore the importance of conducting thorough research and considering multiple perspectives when evaluating the company's prospects.
For those looking to delve deeper into First Business Financial Services' financial health and future outlook, InvestingPro offers additional insights. There are 19 more InvestingPro Tips available that can guide investors in making more informed decisions. Interested readers can unlock these valuable tips by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/FBIZ.
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