FBIZ: Added to Russell Microcap Index - Analyst Blog
23 Juni 2011 - 11:33AM
Zacks
Ann Heffron, CFA
FBIZ: Added to Russell Microcap Index
Yesterday, First Business Financial Services, Inc.
(FBIZ) announced that its stock will be
added to the Russell Microcap Index on June 24, 2011. We believe
that this will have a positive impact on FBIZ’s share price as
institutional index funds that are based on the Russell Microcap
Index are rebalanced to include FBIZ in the portfolio. Moreover, we
expect this impact to continue as liquidity in FBIZ shares improves
due to higher trading volumes.
In other news, FBIZ announced that First Business Capital Corp.
(FBCC), FBIZ’s asset-based lending unit for small-to-mid-market
companies, opened an office in Denver, Colorado. This marks the
sixth branch in FBCC’s network, and adds to FBCC’s presence in the
existing locations of Minneapolis, Minnesota; Chicago, Illinois;
St. Louis, Missouri; Detroit, Michigan; and Cleveland, Ohio. The
Denver office will be headed up by Michael, J. Doyle, who has 12
years of asset-based lending experience and has been active in the
financial services industry for 28 years. Mr. Doyle is an active
member and former board member of the Colorado chapter of the
Turnaround Management Association. Mr. Doyle received his BBA with
honors from Baylor University and his MBA from The University of
Texas at Austin.
In addition, FBIZ announced the payment of its regular $0.07
quarterly dividend on July 15, 2011 for shareholders of record on
July 1, 2011. We note FBIZ has paid a dividend every year since
2003, switching from an annual dividend in 2003, to a semi-annual
dividend in 2005, before changing to a quarterly dividend in
2006.
First Business Financial Services, Inc. (FBIZ or the Company) is a
bank holding company headquartered in Madison, Wisconsin, with $1.1
billion in total assets at December 31, 2010. FBIZ specializes in
business lending for small-medium-sized companies with sales
ranging from $2-50 million. As an adjunct to these services, FBIZ
also offers banking services to business owners, executives,
professionals, and high net worth individuals, though this is a
less significant part of its business.
For a free copy of the FBIZ research report, please email
scr@zacks.com with FBIZ as the subject.
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