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

First Business Financial Services, Inc. (NASDAQ:FBIZ) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.34 per share by the financial services provider on Monday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, November 12th.

First Business Financial Services has raised 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 22.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Business Financial Services to earn $6.99 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 19.5%.

First Business Financial Services Stock Up 3.0%

Shares of FBIZ stock traded up $2.21 during trading on Friday, reaching $75.97. The company’s stock had a trading volume of 285,516 shares, compared to its average volume of 49,167. First Business Financial Services has a 1-year low of $47.87 and a 1-year high of $76.25. The stock’s 50-day moving average price is $70.86 and its 200 day moving average price is $62.24. The company has a market capitalization of $635.91 million, a price-to-earnings ratio of 11.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.28. The company had revenue of $47.51 million during the quarter, compared to analysts’ expectations of $46.88 million. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. On average, research analysts anticipate that First Business Financial Services will post 6.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FBIZ shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price objective (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Weiss Ratings raised shares of First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. DA Davidson set a $80.00 target price on shares of First Business Financial Services and gave the stock a “buy” rating in a report on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $84.00 price target (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Finally, Raymond James Financial began coverage on First Business Financial Services in a report on Thursday, October 1st. They issued an “outperform” rating and a $75.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $78.25.

About First Business Financial Services

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.