Loading...

First Business Financial Services

Nasdaq:FBIZ
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FBIZ
Nasdaq
$180M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

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. The last earnings update was 21 days ago. More info.


Add to Portfolio Compare Print
FBIZ Share Price and Events
7 Day Returns
-4.7%
NasdaqGS:FBIZ
1.8%
US Banks
1.2%
US Market
1 Year Returns
-18%
NasdaqGS:FBIZ
-9%
US Banks
3%
US Market
FBIZ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Business Financial Services (FBIZ) -4.7% -11.3% 4.1% -18% -3.1% -12.3%
US Banks 1.8% 0.6% 15.7% -9% 49.7% 41.2%
US Market 1.2% 2.1% 14.6% 3% 39% 43.5%
1 Year Return vs Industry and Market
  • FBIZ underperformed the Banks industry which returned -9% over the past year.
  • FBIZ underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
FBIZ
Industry
5yr Volatility vs Market

FBIZ Value

 Is First Business Financial Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Business Financial Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Business Financial Services.

NasdaqGS:FBIZ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= $22.95 * 9.7%
$2.22
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $22.95
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:FBIZ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.637 (1 + (1- 21%) (174.34%))
1.344
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.344 * 5.96%)
10.74%

Discounted Cash Flow Calculation for NasdaqGS:FBIZ using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Business Financial Services is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:FBIZ Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.7% – 10.74%) * $22.95)
$-0.24
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.24 / (10.74% - 2.73%)
$-3.04
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $22.95 + $-3.04
$19.91
NasdaqGS:FBIZ Discount to Share Price
Calculation Result
Value per share (USD) From above. $19.91
Current discount Discount to share price of $20.50
= -1 x ($20.50 - $19.91) / $19.91
-3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First Business Financial Services is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Business Financial Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Business Financial Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:FBIZ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.86
NasdaqGS:FBIZ Share Price ** NasdaqGS (2019-03-20) in USD $20.5
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 13.22x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Business Financial Services.

NasdaqGS:FBIZ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FBIZ Share Price ÷ EPS (both in USD)

= 20.5 ÷ 1.86

11.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Business Financial Services is good value based on earnings compared to the US Banks industry average.
  • First Business Financial Services is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Business Financial Services's expected growth come at a high price?
Raw Data
NasdaqGS:FBIZ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
9%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.21x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NasdaqGS:FBIZ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.03x ÷ 9%

1.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Business Financial Services is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First Business Financial Services's assets?
Raw Data
NasdaqGS:FBIZ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $20.57
NasdaqGS:FBIZ Share Price * NasdaqGS (2019-03-20) in USD $20.5
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.24x
United States of America Market PB Ratio Median Figure of 5,156 Publicly-Listed Companies 1.89x
NasdaqGS:FBIZ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FBIZ Share Price ÷ Book Value per Share (both in USD)

= 20.5 ÷ 20.57

1x

* Primary Listing of First Business Financial Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Business Financial Services is good value based on assets compared to the US Banks industry average.
X
Value checks
We assess First Business Financial Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Business Financial Services has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FBIZ Future Performance

 How is First Business Financial Services expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Business Financial Services expected to grow at an attractive rate?
  • First Business Financial Services's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Business Financial Services's earnings growth is positive but not above the United States of America market average.
  • First Business Financial Services's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:FBIZ Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:FBIZ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 9%
NasdaqGS:FBIZ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 10.1%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:FBIZ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:FBIZ Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 95 19 3
2019-12-31 89 18 3
NasdaqGS:FBIZ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 78 26 16
2018-09-30 77 23 16
2018-06-30 73 24 13
2018-03-31 71 28 12
2017-12-31 68 22 12
2017-09-30 76 28 12
2017-06-30 70 19 12
2017-03-31 72 19 14
2016-12-31 70 26 15
2016-09-30 68 28 15
2016-06-30 75 28 16
2016-03-31 74 30 17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Business Financial Services's earnings are expected to grow by 9% yearly, however this is not considered high growth (20% yearly).
  • First Business Financial Services's revenue is expected to grow by 10.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:FBIZ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from First Business Financial Services Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FBIZ Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.24 2.29 2.20 4.00
2019-12-31 2.05 2.08 2.02 4.00
NasdaqGS:FBIZ Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.86
2018-09-30 1.86
2018-06-30 1.55
2018-03-31 1.39
2017-12-31 1.36
2017-09-30 1.36
2017-06-30 1.37
2017-03-31 1.58
2016-12-31 1.71
2016-09-30 1.73
2016-06-30 1.92
2016-03-31 1.94

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • First Business Financial Services is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First Business Financial Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Business Financial Services has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FBIZ Past Performance

  How has First Business Financial Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Business Financial Services's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Business Financial Services's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • First Business Financial Services's 1-year earnings growth exceeds its 5-year average (36.8% vs -0.8%)
  • First Business Financial Services's earnings growth has not exceeded the US Banks industry average in the past year (36.8% vs 43.2%).
Earnings and Revenue History
First Business Financial Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Business Financial Services Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FBIZ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 77.93 16.06 52.45
2018-09-30 77.43 16.04 50.24
2018-06-30 72.67 13.37 47.86
2018-03-31 71.12 11.99 47.13
2017-12-31 68.32 11.74 46.56
2017-09-30 75.56 11.68 46.24
2017-06-30 70.01 11.76 46.11
2017-03-31 72.27 13.56 45.98
2016-12-31 69.81 14.69 45.79
2016-09-30 68.24 14.79 45.12
2016-06-30 74.58 16.48 44.57
2016-03-31 73.67 16.61 43.18
2015-12-31 72.27 16.24 43.25
2015-09-30 69.64 15.90 39.97
2015-06-30 64.70 15.06 36.44
2015-03-31 60.15 14.70 32.72
2014-12-31 55.00 13.85 30.30
2014-09-30 54.05 13.84 26.99
2014-06-30 53.28 13.89 26.07
2014-03-31 52.35 13.51 25.35
2013-12-31 51.51 13.42 24.90
2013-09-30 48.41 12.18 24.86
2013-06-30 47.01 11.19 24.33
2013-03-31 44.17 9.63 23.94
2012-12-31 42.34 8.60 22.96
2012-09-30 40.94 8.45 21.65
2012-06-30 40.02 8.02 21.26
2012-03-31 39.79 8.93 20.72

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Business Financial Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Business Financial Services used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Business Financial Services improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Business Financial Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Business Financial Services has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FBIZ Health

 How is First Business Financial Services's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Business Financial Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Business Financial Services Company Filings, last reported 2 months ago.

NasdaqGS:FBIZ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 180.71 313.76 37.68
2018-09-30 177.54 292.64 42.76
2018-06-30 173.67 376.15 47.42
2018-03-31 171.48 319.90 62.28
2017-12-31 169.28 218.98 18.98
2017-09-30 166.78 179.28 74.58
2017-06-30 165.23 117.28 64.62
2017-03-31 164.13 132.25 61.30
2016-12-31 161.65 70.03 30.57
2016-09-30 159.93 40.96 69.78
2016-06-30 158.39 44.75 132.79
2016-03-31 155.20 46.14 105.99
2015-12-31 150.83 45.28 25.32
2015-09-30 147.97 47.71 123.71
2015-06-30 144.29 58.24 89.37
2015-03-31 141.69 45.72 142.84
2014-12-31 137.75 44.88 32.11
2014-09-30 118.19 33.71 174.95
2014-06-30 115.65 18.81 86.53
2014-03-31 112.20 18.92 77.06
2013-12-31 109.28 23.20 27.73
2013-09-30 106.10 23.32 97.19
2013-06-30 103.24 23.71 108.03
2013-03-31 102.15 39.63 77.59
2012-12-31 99.54 25.79 35.26
2012-09-30 70.55 52.81 90.85
2012-06-30 67.77 55.84 81.50
2012-03-31 66.43 54.76 138.29
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Business Financial Services has an acceptable proportion of non-loan assets held.
  • First Business Financial Services's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Business Financial Services are broadly funded by customer deposits.
  • First Business Financial Services's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • First Business Financial Services has a low allowance for bad loans.
  • First Business Financial Services has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Business Financial Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Business Financial Services has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FBIZ Dividends

 What is First Business Financial Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.93%
Current annual income from First Business Financial Services dividends. Estimated to be 2.9% next year.
If you bought $2,000 of First Business Financial Services shares you are expected to receive $59 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Business Financial Services's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • First Business Financial Services's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:FBIZ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 470 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:FBIZ Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.60 4.00
2019-12-31 0.59 4.00
NasdaqGS:FBIZ Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-25 0.600 2.786
2018-10-26 0.560 2.739
2018-07-27 0.560 2.508
2018-04-27 0.560 2.170
2018-01-26 0.560 2.256
2017-10-27 0.520 2.299
2017-07-28 0.520 2.390
2017-04-27 0.520 2.206
2017-01-27 0.520 2.045
2016-10-28 0.480 2.141
2016-08-01 0.480 2.105
2016-05-02 0.480 1.998
2016-02-01 0.480 2.122
2015-10-30 0.440 1.784
2015-08-07 0.440 1.918
2015-05-04 0.440 1.947
2015-02-02 0.440 1.942
2014-11-03 0.420 1.868
2014-08-01 0.420 1.854
2014-05-02 0.420 1.857
2014-02-03 0.420 1.870
2014-01-30 0.420 2.081
2013-10-29 0.280 1.503
2013-09-13 0.280 1.711
2013-06-18 0.280 1.764
2013-03-14 0.280 2.020
2012-12-21 0.140 1.166
2012-09-18 0.140 1.178
2012-06-19 0.140 1.225
2012-03-13 0.140 1.334
2011-12-15 0.140 1.638
2011-09-21 0.140 1.760
2011-06-17 0.140 1.860
2011-03-14 0.140 2.289
2010-12-17 0.140 2.274
2010-09-17 0.140 2.594
2010-06-28 0.140 3.019
2010-03-17 0.140 2.804
2009-12-18 0.140 2.838
2009-09-18 0.140 2.879
2009-06-19 0.140 2.922
2009-03-26 0.140 2.498

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Business Financial Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
X
Income/ dividend checks
We assess First Business Financial Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Business Financial Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Business Financial Services has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FBIZ Management

 What is the CEO of First Business Financial Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Corey Chambas
COMPENSATION $899,756
AGE 55
TENURE AS CEO 12.3 years
CEO Bio

Mr. Corey A. Chambas has been the Chief Executive Officer of First Business Financial Services, Inc. and First Business Capital Corp. since December 2006 and has been its President since February 2005. Mr. Chambas served as Chief Operating Officer of First Business Financial Services, Inc. from February 2005 to September 19, 2006 and served as its Executive Vice President from July 2002 to February 2005. He served as Chief Executive Officer and President of First Business Bank (Madison, WI) from July 1999 to September 19, 2006 and July 1999 to February 2005 respectively. He serves as Chairman of First Business Capital Corp. He serves of First Madison Investment Corp. He has been Director of First Business Financial Services, Inc. since July 2002. He served as Director of First Business Lending which is a subsidiary at First Business Financial Services, Inc. He served as Director of First Business Capital Corp. He also served as a Director of First Business Leasing, LLC and FMCC Nevada Corp. Mr. Chambas is Director of First Business Bank since November 2018.

CEO Compensation
  • Corey's compensation has been consistent with company performance over the past year.
  • Corey's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Business Financial Services management team in years:

4.8
Average Tenure
56
Average Age
  • The tenure for the First Business Financial Services management team is about average.
Management Team

Corey Chambas

TITLE
President
COMPENSATION
$900K
AGE
55
TENURE
12.3 yrs

Ed Sloane

TITLE
Chief Financial Officer
COMPENSATION
$395K
AGE
57
TENURE
3.2 yrs

Dave Seiler

TITLE
Chief Operating Officer
COMPENSATION
$415K
AGE
53
TENURE
2.9 yrs

Michael Losenegger

TITLE
Chief Credit Officer
COMPENSATION
$358K
AGE
60
TENURE
7.8 yrs

Mark Meloy

TITLE
Chief Executive Officer of First Business Bank
COMPENSATION
$345K
AGE
56
TENURE
11.3 yrs

Jerry Smith

TITLE
Consultant
COMPENSATION
$176K
AGE
73
TENURE
0.4 yrs

Peggy Stebbins

TITLE
Chief Accounting Officer & Controller
AGE
31
TENURE
0.3 yrs

Dawn Siewert

TITLE
Assistant Vice President

Daniel Ovokaitys

TITLE
Chief Information Officer
AGE
44
TENURE
4.8 yrs

Barbara Conley

TITLE
General Counsel
AGE
65
TENURE
10.8 yrs
Board of Directors Tenure

Average tenure and age of the First Business Financial Services board of directors in years:

2.5
Average Tenure
58
Average Age
  • The average tenure for the First Business Financial Services board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jerry Kilcoyne

TITLE
Chair of the Board
COMPENSATION
$63K
AGE
58
TENURE
0.4 yrs

Corey Chambas

TITLE
President
COMPENSATION
$900K
AGE
55
TENURE
16.7 yrs

Dave Vetta

TITLE
CEO, President & Director of First Business Bank - Milwaukee
AGE
64

Jan Eddy

TITLE
Director
COMPENSATION
$43K
AGE
69
TENURE
15.4 yrs

Mark Bugher

TITLE
Director
COMPENSATION
$43K
AGE
69
TENURE
13.7 yrs

Carol Sanders

TITLE
Director
COMPENSATION
$37K
AGE
50
TENURE
2.5 yrs

John Harris

TITLE
Director
COMPENSATION
$35K
AGE
66
TENURE
7.2 yrs

Carla Chavarria

TITLE
Director
COMPENSATION
$34K
AGE
52
TENURE
1.8 yrs

W. Lorenz

TITLE
Independent Director
COMPENSATION
$33K
AGE
35
TENURE
0.8 yrs

Laurie Benson

TITLE
Director
COMPENSATION
$21K
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by First Business Financial Services insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
04. Feb 19 Buy Daniel Olszewski Individual 01. Feb 19 01. Feb 19 2,500 $20.70 $51,750
31. Jan 19 Sell W. Lorenz Individual 30. Jan 19 30. Jan 19 -2,500 $20.45 $-51,135
26. Dec 18 Buy Jan Eddy Individual 24. Dec 18 24. Dec 18 1,000 $19.98 $19,980
26. Dec 18 Buy Daniel Olszewski Individual 24. Dec 18 24. Dec 18 183 $19.95 $3,651
26. Dec 18 Buy Timothy Keane Individual 24. Dec 18 24. Dec 18 288 $19.95 $5,746
21. Dec 18 Buy Gerald Kilcoyne Individual 20. Dec 18 20. Dec 18 5,000 $19.99 $99,950
30. Oct 18 Buy Carol Sanders Individual 30. Oct 18 30. Oct 18 240 $20.75 $4,980
27. Aug 18 Sell Daniel Ovokaitys Individual 24. Aug 18 24. Aug 18 -1,379 $21.86 $-30,145
02. Aug 18 Buy Carol Sanders Individual 01. Aug 18 01. Aug 18 200 $24.93 $4,986
10. May 18 Sell Charles Batson Individual 08. May 18 09. May 18 -1,900 $25.99 $-49,381
07. May 18 Buy Carol Sanders Individual 07. May 18 07. May 18 192 $26.26 $5,042
07. May 18 Buy Dean Voeks Individual 07. May 18 07. May 18 23 $26.26 $604
X
Management checks
We assess First Business Financial Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Business Financial Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FBIZ News

Simply Wall St News

Can First Business Financial Services, Inc. (NASDAQ:FBIZ) Survive The Next Financial Crisis?

As a small-cap bank stock with a market capitalisation of US$184m, First Business Financial Services, Inc.’s (NASDAQ:FBIZ) risk and profitability are largely determined by the underlying economic growth of the US regions in which it operates. … Unpredictable macro events such as political instability could weaken its financial position which is why it is important to understand how well the bank manages its risk levels. … Low levels of leverage coupled with sufficient liquidity may place First Business Financial Services in a safe position in the face of adverse headwinds.

Simply Wall St -

Is First Business Financial Services, Inc.'s (NASDAQ:FBIZ) CEO Pay Fair?

In 2006 Corey Chambas was appointed CEO of First Business Financial Services, Inc. … View our latest analysis for First Business Financial Services? … How Does Corey Chambas's Compensation Compare With Similar Sized Companies.

Simply Wall St -

Why First Business Financial Services, Inc. (NASDAQ:FBIZ) Is A Dividend Rockstar

The company currently pays out a dividend yield of 2.7% to shareholders, making it a relatively attractive dividend stock. … Does First Business Financial Services tick all the boxes of a great dividend stock? … See our latest analysis for First Business Financial Services

Simply Wall St -

When Should You Buy First Business Financial Services, Inc. (NASDAQ:FBIZ)?

saw significant share price movement during recent months on the NASDAQGS, rising to highs of $21.71 and falling to the lows of $19. … A question to answer is whether First Business Financial Services's current trading price of $20.59 reflective of the actual value of the? … Let’s take a look at First Business Financial Services’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Why First Business Financial Services, Inc. (NASDAQ:FBIZ) Could Be Worth Watching

saw significant share price movement during recent months on the NASDAQGS, rising to highs of $21.71 and falling to the lows of $19. … A question to answer is whether First Business Financial Services's current trading price of $20.59 reflective of the actual value of the? … Let’s take a look at First Business Financial Services’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What You Must Know About First Business Financial Services, Inc.'s (NASDAQ:FBIZ) Beta Value

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

Have Insiders Been Selling First Business Financial Services, Inc. (NASDAQ:FBIZ) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in First Business Financial Services, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At First Business Financial Services.

Simply Wall St -

Why These Fundamentals Make First Business Financial Services, Inc.’s (NASDAQ:FBIZ) More Attractive

First Business Financial Services, Inc.’s (NASDAQ:FBIZ) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$178m. … Post-GFC recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry. … These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities.

Simply Wall St -

Are You Considering All The Risks For First Business Financial Services Inc’s (NASDAQ:FBIZ)?

As a small-cap bank with a market capitalisation of US$183m, First Business Financial Services Inc’s (NASDAQ:FBIZ) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First Business Financial Services’s bottom line. … Check out our latest analysis for First Business Financial Services

Simply Wall St -

Is First Business Financial Services Inc's (NASDAQ:FBIZ) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Corey Chambas's Compensation Compare With Similar Sized Companies. … According to our data, First Business Financial Services Inc has a market capitalization of US$181m, and pays its CEO total annual compensation worth US$776k.

Simply Wall St -

FBIZ Company Info

Description

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit. It also provides loan products, including commercial real estate loans, commercial and industrial loans, small business administration loans, and direct financing leases, as well as consumer and other loans comprising home equity, second mortgage, credit card, and other personal loans for professional and executive clients. In addition, the company offers commercial lending, asset-based financing, equipment financing, treasury management, and trust and investment. Further, it provides lines of credit and factored receivable financing, and term loans secured by accounts receivable, inventory, equipment, and real estate assets primarily to manufacturers and wholesale distribution companies; and new and replacement equipment loan and lease, debt restructuring, consolidation, and sale-lease-back transaction services. The company holds an equity investment in a Madison, Wisconsin community development project; and invests in marketable securities and tax-exempt loans. First Business Financial Services, Inc. was incorporated in 1986 and is headquartered in Madison, Wisconsin.

Details
Name: First Business Financial Services, Inc.
FBIZ
Exchange: NasdaqGS
Founded: 1986
$179,966,609
8,778,859
Website: http://www.firstbusiness.com
Address: First Business Financial Services, Inc.
401 Charmany Drive,
Madison,
Wisconsin, 53719,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FBIZ Common Stock Nasdaq Global Select US USD 07. Oct 2005
Number of employees
Current staff
Staff numbers
274
First Business Financial Services employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/21 00:04
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/02/24
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.