First Business Financial Services (NASDAQ:FBIZ) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• First Business Financial Services reported Q1 EPS of $1.44, beating the consensus $1.42 by $0.02, with a net margin of 18.02% and ROE of 14.77%.
• The company increased its quarterly dividend to $0.34 (annualized $1.36), implying a 2.4% yield and a dividend payout ratio of 22.86%.
• Shares trade around $57.29 with a market cap of about $478M and a P/E of 9.63, and Wall Street consensus is a Buy rating with a $67.00 price target.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.02, Zacks reports. First Business Financial Services had a net margin of 18.02% and a return on equity of 14.77%.

First Business Financial Services Stock Up 0.0%

NASDAQ:FBIZ traded up $0.02 on Thursday, reaching $57.29. 24,732 shares of the stock traded hands, compared to its average volume of 36,058. The company has a market capitalization of $477.97 million, a price-to-earnings ratio of 9.63 and a beta of 0.72. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. First Business Financial Services has a 12 month low of $45.90 and a 12 month high of $60.53. The company's fifty day simple moving average is $55.45 and its 200 day simple moving average is $54.43.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, February 28th. Shareholders of record on Saturday, February 14th were paid a dividend of $0.34 per share. The ex-dividend date was Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. This is an increase from First Business Financial Services's previous quarterly dividend of $0.29. First Business Financial Services's dividend payout ratio (DPR) is 22.86%.

Institutional Trading of First Business Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of FBIZ. Royal Bank of Canada increased its stake in First Business Financial Services by 3.3% during the 1st quarter. Royal Bank of Canada now owns 13,677 shares of the financial services provider's stock valued at $645,000 after purchasing an additional 431 shares in the last quarter. AQR Capital Management LLC increased its stake in First Business Financial Services by 104.5% during the 1st quarter. AQR Capital Management LLC now owns 9,635 shares of the financial services provider's stock valued at $454,000 after purchasing an additional 4,924 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in First Business Financial Services by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 234 shares in the last quarter. Quantbot Technologies LP bought a new stake in First Business Financial Services during the 2nd quarter valued at about $147,000. Finally, Invesco Ltd. increased its stake in First Business Financial Services by 0.7% during the 2nd quarter. Invesco Ltd. now owns 58,169 shares of the financial services provider's stock valued at $2,947,000 after purchasing an additional 400 shares in the last quarter. 60.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FBIZ has been the subject of several research reports. DA Davidson reiterated a "buy" rating and issued a $68.00 price target on shares of First Business Financial Services in a research note on Monday, February 2nd. Piper Sandler reiterated an "overweight" rating and issued a $70.00 price target (up from $61.00) on shares of First Business Financial Services in a research note on Tuesday, February 3rd. Keefe, Bruyette & Woods increased their price target on shares of First Business Financial Services from $59.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of First Business Financial Services in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $67.00.

About First Business Financial Services

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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