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

First Business Financial Services, Inc. (NASDAQ:FBIZ - Get Free Report) announced a quarterly dividend on Monday, April 28th, RTT News reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.29 per share by the financial services provider on Monday, June 16th. This represents a $1.16 annualized dividend and a yield of 2.33%.

First Business Financial Services has raised its dividend payment by an average of 11.6% annually over the last three years and has increased its dividend every year for the last 13 years. First Business Financial Services has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Research 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

FBIZ traded up $1.82 on Friday, reaching $49.68. The stock had a trading volume of 15,394 shares, compared to its average volume of 23,620. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services has a 12-month low of $33.10 and a 12-month high of $56.46. The business's 50-day moving average price is $47.84 and its two-hundred day moving average price is $48.23. The company has a market cap of $413.29 million, a P/E ratio of 9.52 and a beta of 0.66.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.32 earnings per share 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 for the quarter, compared to analyst estimates of $40.13 million. Sell-side analysts forecast that First Business Financial Services will post 5.43 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Keefe, Bruyette & Woods cut their price objective 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 downgraded First Business Financial Services from a "buy" rating to a "hold" rating in a research report on Tuesday. Piper Sandler raised their target price 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. Finally, Raymond James boosted their price target on shares of First Business Financial Services from $52.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.25.

Insiders Place Their Bets

In other First Business Financial Services 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. This trade represents a 38.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.10% of the stock is owned by insiders.

About First Business Financial Services

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.