Enterprise Financial Services Corp (EFSC) Increases Dividend to $0.12 Per Share
Enterprise Financial Services Corp (NASDAQ:EFSC) declared a quarterly dividend on Tuesday, July 24th, Wall Street Journal reports. Stockholders of record on Friday, September 14th will be given a dividend of 0.12 per share by the bank on Friday, September 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, September 13th. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.11.
Enterprise Financial Services has raised its dividend by an average of 28.0% annually over the last three years and has raised its dividend every year for the last 3 years. Enterprise Financial Services has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Financial Services to earn $3.92 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 12.2%.
NASDAQ:EFSC opened at $56.00 on Friday. Enterprise Financial Services has a 12 month low of $36.65 and a 12 month high of $58.15. The company has a market capitalization of $1.30 billion, a PE ratio of 17.71, a PEG ratio of 1.74 and a beta of 0.76. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.04 and a current ratio of 1.04.
In other news, insider Douglas Bauche sold 750 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $56.20, for a total value of $42,150.00. Following the sale, the insider now owns 2,761 shares in the company, valued at $155,168.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Scott Richard Goodman sold 1,200 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $54.23, for a total transaction of $65,076.00. Following the completion of the sale, the president now owns 41,713 shares in the company, valued at approximately $2,262,095.99. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Enterprise Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded shares of Enterprise Financial Services from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday, July 27th. Finally, DA Davidson raised their price objective on shares of Enterprise Financial Services to $60.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 25th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Enterprise Financial Services currently has a consensus rating of “Buy” and an average price target of $56.38.
About Enterprise Financial Services
Enterprise Financial Services Corp operates as the holding company for Enterprise Bank & Trust that offers banking and wealth management services to individuals and corporate customers. The company offers demand deposits, interest-bearing transaction accounts, money market accounts, and savings deposits, as well as certificates of deposit.
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