First Business Financial Services (NASDAQ:FBIZ) Releases Quarterly Earnings Results, Beats Estimates By $0.30 EPS

First Business Financial Services (NASDAQ:FBIZ) announced its quarterly earnings results on Thursday. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.30, FiscalAI reports. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The firm had revenue of $46.70 million for the quarter, compared to the consensus estimate of $45.42 million.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ opened at $66.90 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. First Business Financial Services has a 12-month low of $45.90 and a 12-month high of $69.83. The company’s 50 day moving average price is $61.98 and its two-hundred day moving average price is $58.17. The firm has a market cap of $559.32 million, a PE ratio of 11.02 and a beta of 0.66.

First Business Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 12th. First Business Financial Services’s dividend payout ratio is presently 22.41%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of First Business Financial Services by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock valued at $24,691,000 after buying an additional 30,499 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of First Business Financial Services by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 235,050 shares of the financial services provider’s stock worth $12,765,000 after buying an additional 6,347 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of First Business Financial Services by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 105,951 shares of the financial services provider’s stock worth $5,753,000 after buying an additional 22,334 shares during the last quarter. Federated Hermes Inc. boosted its stake in First Business Financial Services by 45.8% in the fourth quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider’s stock valued at $5,689,000 after buying an additional 32,899 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in First Business Financial Services by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 73,727 shares of the financial services provider’s stock valued at $4,003,000 after acquiring an additional 1,666 shares during the last quarter. Institutional investors own 60.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FBIZ. Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. Raymond James Financial set a $64.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Finally, DA Davidson restated a “buy” rating and set a $65.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat, First Business Financial Services has an average rating of “Buy” and an average price target of $65.50.

About First Business Financial Services

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.