First Business Financial Services, Inc. (NASDAQ:FBIZ) Increases Dividend to $0.34 Per Share

First Business Financial Services, Inc. (NASDAQ:FBIZ) announced a quarterly dividend on Thursday, January 29th. Stockholders of record on Saturday, February 14th will be paid a dividend of 0.34 per share by the financial services provider on Saturday, February 28th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, February 13th. This is a 17.2% increase from First Business Financial Services’s previous quarterly dividend of $0.29.

First Business Financial Services has increased its dividend payment by an average of 0.1%per year 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 19.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of FBIZ stock traded up $1.54 on Friday, reaching $56.98. The company’s stock had a trading volume of 39,141 shares, compared to its average volume of 21,601. The stock’s fifty day simple moving average is $55.29 and its 200-day simple moving average is $52.28. First Business Financial Services has a 1 year low of $42.18 and a 1 year high of $59.85. The company has a market capitalization of $474.26 million, a price-to-earnings ratio of 9.37 and a beta of 0.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.77.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20. The business had revenue of $42.22 million during the quarter, compared to analysts’ expectations of $43.10 million. First Business Financial Services had a net margin of 18.55% and a return on equity of 14.89%. Analysts forecast that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FBIZ. Piper Sandler lifted their target price on First Business Financial Services from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, First Business Financial Services has a consensus rating of “Buy” and a consensus price target of $60.67.

First Business Financial Services Company Profile

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.