First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares Will Pay Quarterly Dividend of $0.34

Key Points

• First Business Financial Services declared a quarterly dividend of $0.34 per share, payable November 30 to shareholders of record as of November 12. The annualized dividend is $1.36, yielding approximately 1.8%, and marks the company’s 13th consecutive year of annual dividend increases.
• The company reported quarterly earnings of $1.95 per share, exceeding analysts’ $1.67 estimate, while revenue of $47.51 million also topped expectations.
• FBIZ shares rose 2.9% to $75.89, near their 52-week high of $76.25. Institutional investors own approximately 60.07% of the company, while insiders hold 5%.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.34 per share by the financial services provider on Monday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 12th.

First Business Financial Services has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. First Business Financial Services has a payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Business Financial Services to earn $6.99 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.5%.

First Business Financial Services Trading Up 2.9%

NASDAQ FBIZ traded up $2.13 on Friday, reaching $75.89. The company had a trading volume of 284,505 shares, compared to its average volume of 49,159. The stock's 50 day moving average is $70.86 and its 200-day moving average is $62.24. First Business Financial Services has a 52 week low of $47.87 and a 52 week high of $76.25. The stock has a market cap of $635.24 million, a price-to-earnings ratio of 11.57 and a beta of 0.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.90.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.67 by $0.28. First Business Financial Services had a net margin of 19.28% and a return on equity of 14.92%. The firm had revenue of $47.51 million for the quarter, compared to analyst estimates of $46.88 million. Equities analysts predict that First Business Financial Services will post 6.59 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jodi Chandler sold 675 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the sale, the insider directly owned 22,550 shares in the company, valued at approximately $1,582,784.50. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of First Business Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of First Business Financial Services in the second quarter valued at approximately $43,000. Legal & General Group Plc bought a new stake in shares of First Business Financial Services in the second quarter worth $51,000. Algert Global LLC acquired a new stake in First Business Financial Services in the 2nd quarter valued at $226,000. NewEdge Advisors LLC bought a new position in shares of First Business Financial Services in the 1st quarter valued at about $231,000. Finally, Jones Financial Companies Lllp bought a new stake in First Business Financial Services during the second quarter worth about $234,000. Institutional investors own 60.07% of the company's stock.

About First Business Financial Services

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.

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