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

First Business Financial Services, Inc. (NASDAQ:FBIZ) announced a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders 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 dividend yield of 2.43%.

First Business Financial Services has increased its dividend payment by an average of 11.6% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. First Business Financial Services has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 0.4 %

Shares of NASDAQ:FBIZ opened at $47.69 on Tuesday. First Business Financial Services has a 52 week low of $33.00 and a 52 week high of $56.46. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The company’s fifty day moving average is $48.14 and its 200-day moving average is $48.15. The company has a market capitalization of $395.87 million, a PE ratio of 9.14 and a beta of 0.67.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.03. The business had revenue of $40.84 million for the quarter, compared to the consensus estimate of $40.13 million. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. Equities research analysts predict that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

Insider Activity at First Business Financial Services

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm’s 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 approximately $421,016.90. This trade represents a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Piper Sandler increased their target price on shares of First Business Financial Services from $57.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods cut their target price on shares of First Business Financial Services from $60.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Raymond James increased their target price on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $57.25.

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.