First Business Financial Services (NASDAQ:FBIZ) Issues Earnings Results

First Business Financial Services (NASDAQ:FBIZ) posted its quarterly earnings data on Thursday. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04, Zacks reports. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The company had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. During the same period in the prior year, the company posted $1.17 EPS.

First Business Financial Services Stock Performance

Shares of NASDAQ FBIZ traded down $1.93 during midday trading on Friday, hitting $42.89. The company’s stock had a trading volume of 22,879 shares, compared to its average volume of 15,361. The firm has a market cap of $355.52 million, a P/E ratio of 10.33 and a beta of 0.82. First Business Financial Services has a 1-year low of $29.33 and a 1-year high of $47.23. The firm’s fifty day moving average price is $43.92 and its 200-day moving average price is $39.10. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.08.

First Business Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were given a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. First Business Financial Services’s payout ratio is currently 23.04%.

Analyst Ratings Changes

A number of research analysts recently commented on FBIZ shares. Piper Sandler increased their price target on First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, July 29th. DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $50.00 in a research note on Monday, August 5th. StockNews.com lowered shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $51.00 price target (up from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, First Business Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $50.75.

About First Business Financial Services

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.