First Business Financial Services, Inc. Declares Quarterly Dividend of $0.29 (NASDAQ:FBIZ)

First Business Financial Services, Inc. (NASDAQ:FBIZ) declared a quarterly dividend on Monday, April 28th, RTT News reports. Investors of record on Friday, May 30th will be given a dividend of 0.29 per share by the financial services provider on Monday, June 16th. This represents a $1.16 dividend on an annualized basis and a yield of 2.43%.

First Business Financial Services has increased its dividend by an average of 11.6% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. First Business Financial Services has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Business Financial Services to earn $6.09 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 19.0%.

First Business Financial Services Trading Down 0.4 %

NASDAQ:FBIZ opened at $47.69 on Tuesday. The stock’s 50 day moving average price is $48.14 and its 200 day moving average price is $48.15. First Business Financial Services has a 52 week low of $33.00 and a 52 week high of $56.46. The company has a market capitalization of $395.87 million, a P/E ratio of 9.14 and a beta of 0.67. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. The firm had revenue of $40.84 million for the quarter, compared to the consensus estimate of $40.13 million. On average, research analysts forecast that First Business Financial Services will post 5.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on FBIZ. Keefe, Bruyette & Woods dropped their price objective on First Business Financial Services from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday. Raymond James increased their price target on First Business Financial Services from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler increased their price target on First Business Financial Services from $57.00 to $58.00 and gave the company an “overweight” rating in a report on Monday. Finally, StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $57.25.

Insider Activity

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the transaction, the insider now directly owns 7,718 shares of the company’s stock, valued at $421,016.90. This trade represents a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.10% of the stock is owned by company insiders.

First Business Financial Services Company 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.