First Business Financial Services (NASDAQ:FBIZ) Posts Earnings Results, Beats Expectations By $0.02 EPS

First Business Financial Services (NASDAQ:FBIZ) announced its quarterly earnings results on Thursday. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Performance

NASDAQ FBIZ traded up $0.02 on Thursday, reaching $57.29. 24,732 shares of the stock were exchanged, compared to its average volume of 36,058. First Business Financial Services has a one year low of $45.90 and a one year high of $60.53. The firm has a market capitalization of $477.97 million, a PE ratio of 9.63 and a beta of 0.72. The company’s 50-day simple moving average is $55.45 and its two-hundred day simple moving average is $54.43. 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 Increases Dividend

The company also recently announced 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. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, February 13th. This is a positive change from First Business Financial Services’s previous quarterly dividend of $0.29. First Business Financial Services’s dividend payout ratio (DPR) is 22.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FBIZ. Keefe, Bruyette & Woods raised their price target on shares of First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. DA Davidson reaffirmed a “buy” rating and set a $68.00 price target on shares of First Business Financial Services in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of First Business Financial Services in a report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $70.00 price objective (up from $61.00) on shares of First Business Financial Services in a report on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $67.00.

Institutional Investors Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in First Business Financial Services by 19.7% during the 4th quarter. Invesco Ltd. now owns 11,215 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 1,848 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in First Business Financial Services during the 4th quarter worth approximately $219,000. Empowered Funds LLC raised its stake in First Business Financial Services by 4.5% during the 4th quarter. Empowered Funds LLC now owns 38,327 shares of the financial services provider’s stock worth $2,081,000 after acquiring an additional 1,666 shares during the period. Vista Investment Management raised its stake in First Business Financial Services by 0.8% during the 4th quarter. Vista Investment Management now owns 52,737 shares of the financial services provider’s stock worth $2,864,000 after acquiring an additional 409 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in First Business Financial Services during the 4th quarter worth approximately $250,000. Institutional investors own 60.07% of the company’s stock.

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.