First Business Financial Services (NASDAQ:FBIZ) Issues Quarterly Earnings Results, Meets Expectations

Key Points

• First Business Financial Services reported quarterly earnings of $1.35 per share, matching analyst expectations, with revenue totaling $41.04 million, slightly below the consensus estimate.
• The company announced a quarterly dividend of $0.29, resulting in an annual yield of 2.39%, with a payout ratio of 21.09%.
• Analyst sentiment is generally positive, with a consensus "Buy" rating and a target price of $57.25, although some analysts have adjusted their price targets slightly downward.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) issued its earnings results on Thursday. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.35, Zacks reports. The company had revenue of $41.04 million for the quarter, compared to the consensus estimate of $41.55 million. First Business Financial Services had a return on equity of 14.44% and a net margin of 17.59%.

First Business Financial Services Price Performance

NASDAQ:FBIZ traded down $2.92 during trading hours on Friday, reaching $48.59. The stock had a trading volume of 56,266 shares, compared to its average volume of 49,701. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.05 and a current ratio of 1.05. First Business Financial Services has a 52 week low of $39.65 and a 52 week high of $56.46. The company has a 50 day moving average price of $50.26 and a two-hundred day moving average price of $49.27. The stock has a market capitalization of $404.27 million, a PE ratio of 8.65 and a beta of 0.66.

First Business Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.39%. First Business Financial Services's payout ratio is 21.09%.

Institutional Trading of First Business Financial Services

A number of large investors have recently added to or reduced their stakes in FBIZ. AQR Capital Management LLC boosted its holdings in shares of First Business Financial Services by 104.5% in the 1st quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider's stock worth $454,000 after purchasing an additional 4,924 shares during the period. Royal Bank of Canada boosted its holdings in shares of First Business Financial Services by 3.3% in the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider's stock worth $645,000 after purchasing an additional 431 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of First Business Financial Services by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider's stock worth $222,000 after purchasing an additional 234 shares during the period. Institutional investors own 60.07% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on First Business Financial Services from $60.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Wall Street Zen raised First Business Financial Services from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler lifted their price objective 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, First Business Financial Services presently has a consensus rating of "Buy" and a consensus target price 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.

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