First Business Financial Services (NASDAQ:FBIZ) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

First Business Financial Services (NASDAQ:FBIZ) posted its quarterly earnings results on Thursday. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04, Zacks reports. The business had revenue of $66.39 million during the quarter, compared to analyst estimates of $38.80 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. During the same period in the previous year, the business posted $1.17 EPS.

First Business Financial Services Price Performance

NASDAQ:FBIZ traded down $1.93 during trading hours on Friday, reaching $42.89. 22,879 shares of the company’s stock were exchanged, compared to its average volume of 15,330. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $355.52 million, a P/E ratio of 10.33 and a beta of 0.82. First Business Financial Services has a 12 month low of $29.33 and a 12 month high of $47.23. The business’s 50-day simple moving average is $43.92 and its two-hundred day simple moving average is $39.10.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. First Business Financial Services’s payout ratio is currently 23.04%.

Analyst Ratings Changes

Several research firms have recently commented on FBIZ. StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $51.00 target price (up from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. DA Davidson raised shares of First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $50.00 in a report on Monday, August 5th. Finally, Piper Sandler boosted their price target on First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.75.

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.