First Business Financial Services, Inc. (NASDAQ:FBIZ) Announces Quarterly Dividend of $0.25

First Business Financial Services, Inc. (NASDAQ:FBIZ) declared a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Thursday, November 7th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, November 20th. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, November 7th.

First Business Financial Services has increased its dividend by an average of 11.3% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. First Business Financial Services has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Business Financial Services to earn $5.22 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.2%.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ traded up $0.47 during mid-day trading on Wednesday, reaching $44.72. The company’s stock had a trading volume of 603 shares, compared to its average volume of 15,376. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.08. First Business Financial Services has a 1-year low of $29.80 and a 1-year high of $47.23. The stock has a 50-day moving average of $44.00 and a two-hundred day moving average of $39.35. The stock has a market capitalization of $370.68 million, a P/E ratio of 10.20 and a beta of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The firm had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. During the same quarter last year, the company earned $1.17 earnings per share. On average, equities research analysts anticipate that First Business Financial Services will post 4.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on FBIZ shares. Piper Sandler cut their price target on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday. DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $50.00 in a research note on Monday, August 5th. StockNews.com cut First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 price target (up from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

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.