First Business Financial Services, Inc. (NASDAQ:FBIZ) Declares Quarterly Dividend of $0.29

First Business Financial Services, Inc. (NASDAQ:FBIZ) declared 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 annualized dividend 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 payment by an average of 11.6% 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 18.9% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 1.8 %

NASDAQ:FBIZ opened at $55.45 on Wednesday. First Business Financial Services has a 12-month low of $32.56 and a 12-month high of $56.46. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock’s 50 day simple moving average is $47.96 and its 200-day simple moving average is $46.01. The firm has a market cap of $460.24 million, a P/E ratio of 10.62 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. Equities analysts anticipate that First Business Financial Services will post 5.38 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director William Kent Lorenz sold 1,000 shares of the firm’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 transaction of $49,000.00. Following the completion of the transaction, the director now directly owns 8,341 shares of the company’s stock, valued at $408,709. This trade represents a 10.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the transaction, the insider now owns 7,718 shares of the company’s stock, valued at $421,016.90. This represents a 38.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

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.