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

First Business Financial Services, Inc. (NASDAQ:FBIZGet Rating) announced a dividend on Friday, April 29th, Fidelity reports. Stockholders of record on Monday, May 9th will be given a dividend of 0.1975 per share by the financial services provider on Thursday, May 19th. The ex-dividend date of this dividend is Friday, May 6th.

First Business Financial Services has raised its dividend by an average of 8.7% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. First Business Financial Services has a dividend payout ratio of 19.8% meaning its dividend is sufficiently covered by earnings. Analysts expect First Business Financial Services to earn $3.75 per share next year, which means the company should continue to be able to cover its $0.79 annual dividend with an expected future payout ratio 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 low of $25.50 and a 1-year high of $35.27. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.17 and a current ratio of 1.17.

First Business Financial Services (NASDAQ:FBIZGet Rating) last released its earnings results on Thursday, April 28th. The financial services provider reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.11. First Business Financial Services had a net margin of 27.82% and a return on equity of 15.33%. As a group, sell-side analysts expect that First Business Financial Services will post 3.57 earnings per share for the current fiscal year.

In other news, Director Carla C. Chavarria bought 755 shares of the firm’s stock in a transaction on Thursday, April 14th. 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 director now owns 3,966 shares in the company, valued at $131,948.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FBIZ. The Manufacturers Life Insurance Company grew its position in First Business Financial Services by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 345,558 shares of the financial services provider’s stock worth $10,080,000 after purchasing an additional 25,190 shares during the last quarter. BlackRock Inc. grew its position in First Business Financial Services by 9.1% in the 4th quarter. BlackRock Inc. now owns 121,418 shares of the financial services provider’s stock worth $3,541,000 after purchasing an additional 10,174 shares during the last quarter. Citadel Advisors LLC bought a new position in First Business Financial Services in the 2nd quarter worth about $263,000. Millennium Management LLC boosted its holdings in shares of First Business Financial Services by 8.6% in the fourth quarter. Millennium Management LLC now owns 99,154 shares of the financial services provider’s stock valued at $2,892,000 after acquiring an additional 7,821 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in shares of 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’s stock valued at $690,000 after acquiring an additional 7,663 shares in the last quarter. Hedge funds and other institutional investors own 58.29% of the company’s stock.

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

About First Business Financial Services (Get Rating)

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time 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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