First Business Financial Services, Inc. (NASDAQ:FBIZ – Get Free Report) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.34 per share by the financial services provider on Monday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 12th.
First Business Financial Services has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 13 years. First Business Financial Services has a dividend payout ratio of 22.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Business Financial Services to earn $6.99 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.5%.
First Business Financial Services Trading Up 2.2%
Shares of FBIZ opened at $75.40 on Friday. First Business Financial Services has a 1-year low of $47.87 and a 1-year high of $77.18. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average price is $70.99 and its 200-day moving average price is $62.34. The firm has a market capitalization of $631.10 million, a price-to-earnings ratio of 11.06 and a beta of 0.67.
First Business Financial Services (NASDAQ:FBIZ – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.28. First Business Financial Services had a net margin of 19.93% and a return on equity of 15.27%. The company had revenue of $47.51 million during the quarter, compared to the consensus estimate of $46.88 million. Sell-side analysts anticipate that First Business Financial Services will post 6.59 EPS for the current year.
Insider Activity
In related news, insider Jodi Chandler sold 675 shares of First Business Financial Services stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $70.19, for a total transaction of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares of the company’s stock, valued at $1,582,784.50. This trade represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On First Business Financial Services
Institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Investing LLC bought a new position in First Business Financial Services during the 3rd quarter valued at approximately $644,000. Sequoia Financial Advisors LLC purchased a new position in First Business Financial Services during the second quarter valued at $255,000. Integrated Wealth Concepts LLC purchased a new position in First Business Financial Services during the second quarter valued at $43,000. Squarepoint Ops LLC boosted its holdings in First Business Financial Services by 95.1% in the second quarter. Squarepoint Ops LLC now owns 28,061 shares of the financial services provider’s stock worth $1,773,000 after acquiring an additional 13,681 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in First Business Financial Services in the second quarter worth $2,853,000. Institutional investors own 60.07% of the company’s stock.
About First Business Financial Services
First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.
Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.
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