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


First Business Financial Services, Inc. (NASDAQ:FBIZ – Get Rating) announced a dividend on Friday, April 29, Fidelity reports. Shareholders 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 by an average of 8.7% per year for the past three years and has increased its dividend annually for the past 10 consecutive years. First Business Financial Services has a dividend payout ratio of 19.8%, which means its dividend is sufficiently covered by earnings. 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 of expected future payout of 21.1%.

FBIZ opened at $34.67 on Friday. The company has a 50-day moving average of $32.88 and a 200-day moving average of $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. First Business Financial Services has a 1 year minimum of $25.50 and a 1 year maximum of $35.27. 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 released its results on Thursday, April 28. The financial services provider reported earnings per share of $1.02 for the quarter, beating Thomson Reuters 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, sell-side analysts expect First Business Financial Services to post earnings per share of 3.57 for the current fiscal year.

Separately, director Carla C. Chavarria purchased 755 shares of the company in a trade on Thursday, April 14. The stock was purchased at an average price of $33.27 per share, for a total transaction of $25,118.85. Following the transaction, the administrator now owns 3,966 shares of the company, valued at $131,948.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. 6.10% of the shares are held by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FBIZ. The Manufacturers Life Insurance Company increased its position in First Business Financial Services by 7.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 345,558 shares of the financial services provider worth $10,080,000 after purchasing an additional 25,190 shares in the last quarter. BlackRock Inc. increased its position in First Business Financial Services by 9.1% in the fourth quarter. BlackRock Inc. now owns 121,418 shares of the financial services provider worth $3,541,000 after buying an additional 10,174 shares in the last quarter. Citadel Advisors LLC bought a new position in First Business Financial Services in Q2 for a value of approximately $263,000. Millennium Management LLC increased its holdings of First Business Financial Services stock by 8.6% in the fourth quarter. Millennium Management LLC now owns 99,154 shares of the financial services provider valued at $2,892,000 after acquiring an additional 7,821 shares last quarter. Finally, Susquehanna International Group LLP increased its equity stake in First Business Financial Services by 47.9% in the fourth quarter. Susquehanna International Group LLP now owns 23,657 shares of the financial services provider valued at $690,000 after acquiring an additional 7,663 shares last quarter. Hedge funds and other institutional investors own 58.29% of the company’s shares.

Several research companies recently commented on FBIZ. StockNews.com began covering First Business Financial Services shares in a Thursday, March 31 report. They issued a “buy” rating for the company. On Friday, Zacks Investment Research downgraded shares of First Business Financial Services from a “hold” rating to a “sell” rating. One research analyst rated the stock with a sell rating, one issued a hold rating and two assigned the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.50.

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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