Raymond James Maintains First Business Financial Services (FBIZ) Outperform Recommendation

Fintel reports that on April 6, 2023,
Raymond James
maintained
coverage of First Business Financial Services (NASDAQ:FBIZ) with
a Outperform recommendation.

Analyst Price Forecast Suggests 40.46% Upside

As of April 6, 2023,
the average one-year price target for First Business Financial Services is $41.31.
The forecasts range from a low of $39.39 to a high of $44.10.
The average price target represents an increase of 40.46% from its latest reported closing price of $29.41.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for First Business Financial Services
is $144MM, an increase of 9.32%.

The projected annual non-GAAP EPS
is $4.43.

First Business Financial Services Declares $0.23 Dividend

On January 27, 2023 the company declared a regular
quarterly dividend of $0.23 per share ($0.91 annualized).
Shareholders of record as of February 6, 2023
received the payment on February 16, 2023.
Previously, the company paid $0.20 per share.

At the current share price of $29.41 / share,
the stock’s dividend yield is 3.09%.

Looking back five years and taking a sample every week, the average dividend yield has been
2.79%,
the lowest has been 2.00%,
and the highest has been 5.02%.
The standard deviation of yields is 0.64 (n=236).

The current dividend yield is
0.47 standard deviations

above
the historical average.

Additionally, the company’s dividend payout ratio is 0.19.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.38%,
demonstrating that it has increased its dividend over time.

What are Other Shareholders Doing?

EAM Investors
holds 32K shares
representing 0.39% ownership of the company.

In it’s prior filing, the firm reported owning 32K shares, representing
a decrease
of 0.31%.

The firm

increased

its portfolio allocation in FBIZ by 7.39% over the last quarter.

VCSLX – Small Cap Index Fund
holds 3K shares
representing 0.03% ownership of the company.

In it’s prior filing, the firm reported owning 3K shares, representing
a decrease
of 0.31%.

The firm

increased

its portfolio allocation in FBIZ by 15.29% over the last quarter.

GSSC – Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF
holds 7K shares
representing 0.09% ownership of the company.

In it’s prior filing, the firm reported owning 8K shares, representing
a decrease
of 5.34%.

The firm

increased

its portfolio allocation in FBIZ by 11.94% over the last quarter.

URTY – ProShares UltraPro Russell2000
holds 1K shares
representing 0.01% ownership of the company.

In it’s prior filing, the firm reported owning 1K shares, representing
an increase
of 17.43%.

The firm

increased

its portfolio allocation in FBIZ by 29.94% over the last quarter.

FISVX – Fidelity Small Cap Value Index Fund
holds 6K shares
representing 0.07% ownership of the company.

In it’s prior filing, the firm reported owning 6K shares, representing
an increase
of 4.95%.

The firm

increased

its portfolio allocation in FBIZ by 6.27% over the last quarter.

What is the Fund Sentiment?

There are 242 funds or institutions reporting positions in First Business Financial Services.

This is an increase
of
7
owner(s) or 2.98% in the last quarter.

Average portfolio weight of all funds dedicated to FBIZ is 0.12%,
a decrease
of 11.34%.

Total shares owned by institutions decreased
in the last three months by 3.55% to 6,260K shares.

The put/call ratio of FBIZ is 0.00, indicating a

bullish
outlook.

First Business Financial Services Background Information
(This description is provided by the company.)

First Business Financial Services, Inc. is the parent company of First Business Bank. First Business Bank specializes in business banking, including commercial banking and specialty finance, private wealth, and bank consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC.

See all First Business Financial Services regulatory filings.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.