First Business Financial Services, Inc. (FBIZ) to Issue Quarterly Dividend of $0.29 on February 28th

First Business Financial Services, Inc. (NASDAQ:FBIZ) announced a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.29 per share by the financial services provider on Friday, February 28th. This represents a $1.16 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, February 14th. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.25.

First Business Financial Services has increased its dividend by an average of 11.6% annually 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 18.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Business Financial Services to earn $6.14 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 18.9%.

First Business Financial Services Price Performance

FBIZ opened at $55.45 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The firm has a market cap of $460.24 million, a P/E ratio of 10.62 and a beta of 0.88. The firm has a 50-day moving average of $47.96 and a 200 day moving average of $46.01. First Business Financial Services has a fifty-two week low of $32.56 and a fifty-two week high of $56.46.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. On average, research analysts expect that First Business Financial Services will post 5.38 EPS for the current year.

Insider Buying and Selling at First Business Financial Services

In related news, Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total value of $49,000.00. Following the transaction, the director now directly owns 8,341 shares in the company, valued at approximately $408,709. This represents a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the sale, the insider now owns 7,718 shares of the company’s stock, valued at approximately $421,016.90. The trade was a 38.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FBIZ. Piper Sandler lifted their target price on shares of First Business Financial Services from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Keefe, Bruyette & Woods lifted their price objective on shares of First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James raised their price target on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, First Business Financial Services currently has a consensus rating of “Buy” and an average target price of $58.75.

First Business Financial Services Company Profile

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.