First Business Financial Services (NASDAQ:FBIZ) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

First Business Financial Services (NASDAQ:FBIZ) announced its earnings results on Thursday. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.20, FiscalAI reports. The firm had revenue of $42.22 million for the quarter, compared to analyst estimates of $43.10 million. First Business Financial Services had a net margin of 18.55% and a return on equity of 14.89%.

First Business Financial Services Trading Up 3.0%

FBIZ traded up $1.65 on Thursday, reaching $57.09. 39,141 shares of the company’s stock were exchanged, compared to its average volume of 24,022. The company’s 50 day moving average is $55.15 and its 200-day moving average is $52.24. The company has a market cap of $474.99 million, a price-to-earnings ratio of 9.39 and a beta of 0.75. First Business Financial Services has a twelve month low of $42.18 and a twelve month high of $59.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 19th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, November 19th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.0%. First Business Financial Services’s payout ratio is presently 19.08%.

Institutional Investors Weigh In On First Business Financial Services

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of First Business Financial Services during the 3rd quarter valued at $33,000. EverSource Wealth Advisors LLC lifted its stake in shares of First Business Financial Services by 32,175.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,287 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of First Business Financial Services by 356.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock worth $96,000 after buying an additional 1,476 shares during the period. Virtus Advisers LLC purchased a new stake in shares of First Business Financial Services in the third quarter worth about $109,000. Finally, Quantbot Technologies LP acquired a new stake in shares of First Business Financial Services in the second quarter valued at about $147,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Piper Sandler increased their target price on First Business Financial Services from $58.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, First Business Financial Services has an average rating of “Buy” and an average price target of $60.67.

First Business Financial Services Company Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.