FBIZ First Business Financial Services Inc

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.

Follow Zacks Small Cap Research on Twitter at Twitter.com/ZacksSmallCap

First Business Financial... (NASDAQ:FBIZ)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

First Business Financial... (NASDAQ:FBIZ)
Historical Stock Chart
Von Jul 2023 bis Jul 2024