First Business Financial Services, Inc. (NASDAQ: FBIZ) Announces $0.20 Dividend

First Business Financial Services, Inc. (NASDAQ:FBIZ – Get Rating) announced a dividend on Friday, April 29, Fidelity reports. Investors of record on Monday, May 9 will receive a dividend of 0.1975 per share from the financial services provider on Thursday, May 19. The ex-dividend date is Friday, May 6.

First Business Financial Services has increased its dividend payout by an average of 8.7% per year over the past three years and has increased its dividend every year for the past 10 years. First Business Financial Services has a payout ratio of 19.8%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect First Business Financial Services to earn $3.75 per share next year, meaning the company should continue to be able to cover its $0.79 annual dividend with a ratio expected future payout of 21.1%.

NASDAQ FBIZ shares opened at $34.67 on Friday. First Business Financial Services has a 1 year minimum of $25.50 and a 1 year maximum of $35.27. The company’s 50-day moving average price is $32.88 and its 200-day moving average price is $31.28. The company has a market capitalization of $292.27 million, a P/E ratio of 8.56 and a beta of 0.81. The company has a debt ratio of 1.78, a quick ratio of 1.17 and a current ratio of 1.17.

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First Business Financial Services (NASDAQ:FBIZ – Get Rating) last announced its results on Thursday, April 28. The financial services provider reported earnings per share (EPS) of $1.02 for the quarter, beating the Zacks consensus estimate of $0.91 by $0.11. First Business Financial Services posted a net margin of 27.82% and a return on equity of 15.33%. As a group, equity analysts predict First Business Financial Services will post EPS of 3.57 for the current year.

A number of brokerages have weighed in on FBIZ. StockNews.com began covering First Business Financial Services shares in a Thursday, March 31 report. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of First Business Financial Services from a “hold” rating to a “sell” rating in a report on Friday. One analyst rated the stock with a sell rating, one assigned a hold rating and two assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.50.

In other First Business Financial Services news, Director Carla C. Chavarria purchased 755 shares of the company in a trade dated Thursday, April 14. The shares were acquired at an average price of $33.27 per share, with a total value of $25,118.85. As a result of the purchase, the administrator now owns 3,966 shares of the company, valued at approximately $131,948.82. The purchase was disclosed in a document filed with the SEC, which is available via this link. Insiders of the company hold 6.10% of the shares of the company.

Hedge funds have recently changed their holdings in the company. JPMorgan Chase & Co. bought a new position in shares of First Business Financial Services in Q4 worth $140,000. Citadel Advisors LLC acquired a new stake in First Business Financial Services during Q2 valued at $263,000. Morgan Stanley increased its stake in First Business Financial Services by 106.7% in the second quarter. Morgan Stanley now owns 12,465 shares of the financial services provider worth $338,000 after purchasing an additional 6,435 shares during the period. Susquehanna International Group LLP increased its stake in First Business Financial Services by 47.9% during the 4th quarter. Susquehanna International Group LLP now owns 23,657 shares of the financial services provider worth $690,000 after purchasing an additional 7,663 shares during the period. Finally, Millennium Management LLC increased its stake in First Business Financial Services by 8.6% during the 4th quarter. Millennium Management LLC now owns 99,154 shares of the financial services provider worth $2,892,000 after purchasing an additional 7,821 shares during the period. 58.29% of the shares are currently held by institutional investors and hedge funds.

About First Business Financial Services (Get an assessment)

First Business Financial Services, Inc operates as a banking holding company for First Business Bank which provides commercial banking products and services to small and medium-sized businesses, business owners, executives, professionals and high net worth individuals. The Company offers deposit products, such as non-interest bearing transaction accounts, interest bearing transaction accounts, money market accounts, term deposits and certificates of deposit, as well as credit cards.

See also

Dividend history for First Business Financial Services (NASDAQ:FBIZ)

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