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

Key Points

• First Business Financial Services declared a quarterly dividend of $0.34 per share (annualized $1.36), payable May 20 to holders of record on May 6, implying a yield of about 2.4%.
• The company has increased its dividend for 13 consecutive years and maintains a low payout ratio (22.4% currently, forecast ~20.2% next year), indicating the dividend is well covered by earnings.
• First Business beat Q1 estimates with $1.44 EPS and $44.29M revenue, and analysts hold a consensus Buy rating with a $67 target (top targets $68–$70); market cap is roughly $478M and P/E ~9.6.

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Wednesday, May 6th will be paid a dividend of 0.34 per share by the financial services provider on Wednesday, May 20th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, May 6th.

First Business Financial Services has raised 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% meaning its dividend is sufficiently covered by earnings. Analysts expect First Business Financial Services to earn $6.73 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 20.2%.

First Business Financial Services Trading Up 0.0%

NASDAQ FBIZ opened at $57.29 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a market cap of $477.80 million, a PE ratio of 9.63 and a beta of 0.72. First Business Financial Services has a one year low of $45.90 and a one year high of $60.53. The firm's fifty day moving average is $55.43 and its two-hundred day moving average is $54.45.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.02. The company had revenue of $44.29 million for the quarter, compared to analyst estimates of $43.40 million. First Business Financial Services had a net margin of 18.02% and a return on equity of 14.77%. Analysts expect that First Business Financial Services will post 6.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FBIZ shares. Keefe, Bruyette & Woods lifted their price objective on shares of First Business Financial Services from $59.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, February 2nd. Weiss Ratings restated a "buy (b)" rating on shares of First Business Financial Services in a research note on Tuesday. DA Davidson restated a "buy" rating and issued a $68.00 price objective on shares of First Business Financial Services in a research note on Monday, February 2nd. Finally, Piper Sandler restated an "overweight" rating and issued a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a research note on Tuesday, February 3rd. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $67.00.

First Business Financial Services Company Profile

First Business Financial Services, Inc NASDAQ: FBIZ is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.

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