First Business Financial Services (NASDAQ:FBIZ) Releases Earnings Results, Beats Expectations By $0.04 EPS

First Business Financial Services (NASDAQ:FBIZ) announced its earnings results on Thursday. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04, Zacks reports. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The firm had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. During the same quarter in the previous year, the business posted $1.17 EPS.

First Business Financial Services Stock Performance

NASDAQ:FBIZ traded down $1.93 during mid-day trading on Friday, reaching $42.89. The company’s stock had a trading volume of 22,879 shares, compared to its average volume of 15,361. First Business Financial Services has a 12-month low of $29.33 and a 12-month high of $47.23. The firm’s fifty day moving average price is $43.92 and its two-hundred day moving average price is $39.10. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. The stock has a market cap of $355.52 million, a P/E ratio of 10.33 and a beta of 0.82.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, August 8th. First Business Financial Services’s dividend payout ratio (DPR) is 23.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FBIZ. DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $36.00 to $50.00 in a report on Monday, August 5th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $51.00 price target (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Piper Sandler lifted their price target on First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.75.

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.