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

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) announced a quarterly dividend on Friday, April 25th, Wall Street Journal reports. Shareholders of record on Friday, May 9th will be paid a dividend of 0.29 per share by the financial services provider on Friday, May 23rd. This represents a $1.16 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, May 9th.

First Business Financial Services has raised its dividend by an average of 11.6% per year over the last three years and has raised its dividend every year for the last 13 years. First Business Financial Services has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of FBIZ stock traded up $1.82 during trading hours on Friday, reaching $49.68. 15,394 shares of the company's stock were exchanged, compared to its average volume of 23,620. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. First Business Financial Services has a 1 year low of $33.10 and a 1 year high of $56.46. The company has a market cap of $413.29 million, a P/E ratio of 9.52 and a beta of 0.66. The company's 50 day moving average is $47.84 and its two-hundred day moving average is $48.23.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $1.32 EPS for the quarter, beating 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 company had revenue of $40.84 million during the quarter, compared to the consensus estimate of $40.13 million. Equities research analysts anticipate that First Business Financial Services will post 5.43 EPS for the current fiscal year.

Insider Buying and Selling at First Business Financial Services

In other news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the completion of the sale, the insider now directly owns 7,718 shares in the company, valued at $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on FBIZ. Keefe, Bruyette & Woods dropped their target price on shares of First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, April 28th. StockNews.com cut First Business Financial Services from a "buy" rating to a "hold" rating in a report on Tuesday, April 29th. Raymond James upped their target price 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. Finally, Piper Sandler lifted their price target on First Business Financial Services from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.25.

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.