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.
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.
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