First Business Financial Services (NASDAQ:FBIZ) Announces Earnings Results

First Business Financial Services (NASDAQ:FBIZ) posted its quarterly earnings results on Thursday. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.20, FiscalAI reports. First Business Financial Services had a net margin of 18.55% and a return on equity of 14.89%. The company had revenue of $42.22 million for the quarter, compared to analyst estimates of $43.10 million.

First Business Financial Services Price Performance

Shares of FBIZ stock opened at $57.09 on Friday. 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 one year low of $42.18 and a one year high of $59.85. The firm has a market cap of $475.22 million, a price-to-earnings ratio of 9.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03.

First Business Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be given a dividend of $0.34 per share. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 2.4%. First Business Financial Services’s dividend payout ratio is 19.08%.

Wall Street Analysts Forecast Growth

FBIZ has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of First Business Financial Services in a research note on Thursday, January 22nd. Piper Sandler lifted their price objective 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. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $60.67.

Institutional Investors Weigh In On First Business Financial Services

Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of First Business Financial Services during the 3rd quarter worth about $33,000. EverSource Wealth Advisors LLC grew its stake in First Business Financial Services by 32,175.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock worth $65,000 after buying an additional 1,287 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of First Business Financial Services by 356.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after buying an additional 1,476 shares in the last quarter. Virtus Advisers LLC bought a new position in shares of First Business Financial Services in the third quarter valued at approximately $109,000. Finally, Quantbot Technologies LP acquired a new position in shares of First Business Financial Services in the 2nd quarter worth approximately $147,000. Institutional investors own 60.07% of the company’s stock.

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.