First Business Financial Services, Inc. (NASDAQ:FBIZ) Announces $0.25 Quarterly Dividend

First Business Financial Services, Inc. (NASDAQ:FBIZ) declared a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Thursday, November 7th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, November 20th. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Thursday, November 7th.

First Business Financial Services has raised its dividend payment by an average of 11.3% annually over the last three years and has increased its dividend every year for the last 12 years. First Business Financial Services has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Business Financial Services to earn $5.22 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.2%.

First Business Financial Services Price Performance

First Business Financial Services stock traded up $0.24 during trading hours on Wednesday, reaching $44.49. 3,485 shares of the stock were exchanged, compared to its average volume of 15,319. The stock has a 50 day moving average of $44.00 and a two-hundred day moving average of $39.35. The company has a market cap of $368.78 million, a P/E ratio of 10.30 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. First Business Financial Services has a twelve month low of $30.50 and a twelve month high of $47.23.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The business had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. During the same period last year, the firm posted $1.17 earnings per share. Equities analysts expect that First Business Financial Services will post 4.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FBIZ. StockNews.com downgraded First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. Piper Sandler reduced their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $50.00 in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

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.