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

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04, Zacks reports. The business had revenue of $66.39 million during the quarter, compared to analysts' expectations of $38.80 million. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. During the same quarter in the previous year, the business posted $1.17 EPS.

First Business Financial Services Stock Performance

FBIZ 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 15,361. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. First Business Financial Services has a 12 month low of $29.33 and a 12 month high of $47.23. The company has a 50 day simple moving average of $43.92 and a 200-day simple moving average of $39.15. The firm has a market cap of $355.52 million, a PE ratio of 9.88 and a beta of 0.82.

First Business Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Thursday, August 8th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. First Business Financial Services's payout ratio is presently 23.04%.

Analysts Set New Price Targets

A number of research firms have issued reports on FBIZ. DA Davidson upgraded shares of First Business Financial Services from a "neutral" rating to a "buy" rating and lifted their target price for the company from $36.00 to $50.00 in a research note on Monday, August 5th. StockNews.com cut shares of First Business Financial Services from a "buy" rating to a "hold" rating in a report on Wednesday. Piper Sandler raised their target price 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. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $51.00 price target (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.