Enterprise Financial Services Corporation (NASDAQ:EFSC) Increases Dividend to $0.34 Per Share

Enterprise Financial Services Corporation (NASDAQ:EFSC) announced a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Monday, June 15th will be paid a dividend of 0.34 per share by the bank on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, June 15th. This is a 3.0% increase from Enterprise Financial Services’s previous quarterly dividend of $0.33.

Enterprise Financial Services has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 11 years. Enterprise Financial Services has a payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Enterprise Financial Services to earn $5.92 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 22.3%.

Enterprise Financial Services Stock Performance

EFSC opened at $58.28 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24. Enterprise Financial Services has a 52-week low of $48.97 and a 52-week high of $62.30. The firm’s 50-day moving average price is $56.51 and its 200-day moving average price is $55.79. The company has a market cap of $2.15 billion, a P/E ratio of 10.98 and a beta of 0.79.

Enterprise Financial Services (NASDAQ:EFSC) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. Enterprise Financial Services had a net margin of 20.15% and a return on equity of 10.57%. The company had revenue of $113.74 million for the quarter, compared to the consensus estimate of $174.02 million. As a group, equities analysts anticipate that Enterprise Financial Services will post 5.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Enterprise Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. DA Davidson boosted their price target on shares of Enterprise Financial Services from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Piper Sandler increased their price objective on shares of Enterprise Financial Services from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.00.

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.