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

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) announced a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Stockholders of record on Friday, May 9th will be given 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 dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, May 9th.

First Business Financial Services has raised its dividend payment by an average of 11.6% annually 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 19.0% 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 Up 1.7 %

NASDAQ:FBIZ traded up $0.81 on Tuesday, hitting $48.50. 19,900 shares of the stock were exchanged, compared to its average volume of 23,490. The stock has a market cap of $402.60 million, a PE ratio of 9.29 and a beta of 0.67. First Business Financial Services has a fifty-two week low of $33.00 and a fifty-two week high of $56.46. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average of $48.14 and a 200-day moving average of $48.15.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued 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 net margin of 16.86% and a return on equity of 14.33%. The business had revenue of $40.84 million for the quarter, compared to the consensus estimate of $40.13 million. As a group, equities analysts expect that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FBIZ has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday. StockNews.com upgraded First Business Financial Services from a "hold" rating to a "buy" rating in a research note on Monday, February 3rd. Raymond James raised their price objective on First Business Financial Services from $52.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, Piper Sandler increased their target price on First Business Financial Services from $57.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, First Business Financial Services has a consensus rating of "Buy" and an average target price of $57.25.

Insider Transactions at First Business Financial Services

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction on Friday, February 7th. The shares were 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 owns 7,718 shares of the company's stock, valued at $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 5.10% of the company's stock.

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.

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