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

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

First Business Financial Services Price Performance

NASDAQ:FBIZ traded up $1.65 during trading hours on Thursday, hitting $57.09. The company’s stock had a trading volume of 39,141 shares, compared to its average volume of 24,022. First Business Financial Services has a 52-week low of $42.18 and a 52-week high of $59.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50-day moving average is $55.15 and its two-hundred day moving average is $52.24. The company has a market capitalization of $474.99 million, a PE ratio of 9.39 and a beta of 0.75.

First Business Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 3rd. Investors of record on Wednesday, November 19th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, November 19th. First Business Financial Services’s dividend payout ratio is currently 19.08%.

Analyst Ratings Changes

FBIZ has been the topic of a number of recent research reports. Piper Sandler lifted 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 note 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $60.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of First Business Financial Services by 6.8% in the third quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock worth $24,691,000 after acquiring an additional 30,499 shares during the last quarter. First Trust Advisors LP increased its position in First Business Financial Services by 469.9% during the 3rd quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 24,949 shares in the last quarter. Ameriprise Financial Inc. increased its position in First Business Financial Services by 85.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 44,746 shares of the financial services provider’s stock worth $2,267,000 after purchasing an additional 20,557 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in First Business Financial Services in the 3rd quarter valued at about $1,001,000. Finally, Qube Research & Technologies Ltd lifted its holdings in First Business Financial Services by 58.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 34,578 shares of the financial services provider’s stock valued at $1,772,000 after purchasing an additional 12,707 shares in the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

About First Business Financial Services

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.