First Business Financial Services, Inc. (NASDAQ:FBIZ) to Issue Quarterly Dividend of $0.34

First Business Financial Services, Inc. (NASDAQ:FBIZ) announced a quarterly dividend on Thursday, January 29th. Investors 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) dividend on an annualized basis and a 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 by an average of 0.1%annually 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 19.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of FBIZ traded up $1.65 during trading hours on Friday, hitting $57.09. The company’s stock had a trading volume of 39,141 shares, compared to its average volume of 21,601. The company has a market cap of $475.18 million, a price-to-earnings ratio of 9.31 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. The business has a 50 day simple moving average of $55.29 and a two-hundred day simple moving average of $52.28. First Business Financial Services has a 52-week low of $42.18 and a 52-week high of $59.85.

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

Analysts Set New Price Targets

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