First Business Financial Services, Inc. (NASDAQ:FBIZ – Get Free Report) declared a quarterly dividend on Monday, April 29th, Zacks reports. Shareholders of record on Thursday, May 9th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, May 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Wednesday, May 8th.
First Business Financial Services has raised its dividend payment by an average of 11.3% annually over the last three years and has raised its dividend every year for the last 12 years. First Business Financial Services has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Business Financial Services to earn $5.23 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 19.1%.
First Business Financial Services Price Performance
Shares of NASDAQ FBIZ opened at $33.20 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.08 and a quick ratio of 1.08. First Business Financial Services has a 1-year low of $24.57 and a 1-year high of $41.03. The company has a market capitalization of $275.89 million, a price-to-earnings ratio of 7.65 and a beta of 0.78. The business has a 50-day moving average of $34.71 and a 200-day moving average of $35.14.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Raymond James upped their target price on shares of First Business Financial Services from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Piper Sandler reissued an “overweight” rating and issued a $44.00 price target on shares of First Business Financial Services in a report on Monday, March 18th.
Read Our Latest Stock Report on First Business Financial Services
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.
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