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

First Business Financial Services (NASDAQ:FBIZ) announced its earnings results on Thursday. The financial services provider reported $1.24 EPS for the quarter, topping 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 firm had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. During the same period in the previous year, the business earned $1.17 EPS.

First Business Financial Services Price Performance

Shares of FBIZ opened at $42.89 on Friday. The firm has a market cap of $355.56 million, a PE ratio of 9.34 and a beta of 0.82. First Business Financial Services has a 52-week low of $29.33 and a 52-week high of $47.23. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.08. The business’s 50 day moving average price is $43.92 and its two-hundred day moving average price is $39.18.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date 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 currently 21.79%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FBIZ shares. Piper Sandler raised their price objective on First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $50.00 in a report on Monday, August 5th. Keefe, Bruyette & Woods restated 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. Finally, StockNews.com cut shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.