Enterprise Financial Services Corporation (NASDAQ:EFSC) Declares Dividend Increase – $0.35 Per Share

Enterprise Financial Services Corporation (NASDAQ:EFSC) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.35 per share by the bank on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a 2.9% increase from Enterprise Financial Services’s previous quarterly dividend of $0.34.

Enterprise Financial Services has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Enterprise Financial Services has a payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Enterprise Financial Services to earn $5.95 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 22.9%.

Enterprise Financial Services Price Performance

Enterprise Financial Services stock opened at $65.68 on Thursday. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 12.39 and a beta of 0.79. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Enterprise Financial Services has a 12 month low of $51.18 and a 12 month high of $68.73. The stock’s 50 day moving average is $63.30 and its 200-day moving average is $59.16.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.20). The firm had revenue of $182.19 million during the quarter, compared to the consensus estimate of $189.15 million. Enterprise Financial Services had a net margin of 19.81% and a return on equity of 10.35%. Equities research analysts expect that Enterprise Financial Services will post 5.57 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EFSC shares. Wall Street Zen cut shares of Enterprise Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Piper Sandler lifted their price objective on shares of Enterprise Financial Services from $64.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods raised their target price on shares of Enterprise Financial Services from $66.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Raymond James Financial raised their price objective on Enterprise Financial Services from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.50.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. (NASDAQ: EFSC) is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.