First Business Financial Services (NASDAQ:FBIZ) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

First Business Financial Services (NASDAQ:FBIZ) issued its earnings results on Thursday. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04, Zacks reports. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. The company had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. During the same quarter last year, the company earned $1.17 EPS.

First Business Financial Services Trading Down 4.3 %

Shares of First Business Financial Services stock traded down $1.93 during trading on Friday, hitting $42.89. The stock had a trading volume of 22,879 shares, compared to its average volume of 15,330. First Business Financial Services has a 12 month low of $29.33 and a 12 month high of $47.23. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.08 and a quick ratio of 1.07. The firm’s fifty day simple moving average is $43.92 and its 200-day simple moving average is $39.10. The stock has a market cap of $355.52 million, a PE ratio of 10.33 and a beta of 0.82.

First Business Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, August 8th. First Business Financial Services’s dividend payout ratio (DPR) is 23.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FBIZ. Keefe, Bruyette & Woods reiterated 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. Piper Sandler raised 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. StockNews.com cut First Business Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $50.00 in a research report on Monday, August 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.75.

First Business Financial Services Company Profile

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.