Enterprise Financial Services Corp (NASDAQ:EFSC) Increases Dividend to $0.28 Per Share

Enterprise Financial Services Corp (NASDAQ:EFSC) announced a quarterly dividend on Monday, October 21st, Zacks reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.28 per share by the bank on Tuesday, December 31st. This represents a $1.12 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Monday, December 16th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.27.

Enterprise Financial Services has increased its dividend payment by an average of 11.6% annually over the last three years. Enterprise Financial Services has a dividend payout ratio of 24.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Enterprise Financial Services to earn $4.44 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 24.3%.

Enterprise Financial Services Stock Performance

Shares of EFSC stock traded up $0.99 during trading hours on Wednesday, hitting $53.97. The company’s stock had a trading volume of 9,396 shares, compared to its average volume of 142,882. The company has a 50 day moving average of $51.09 and a 200 day moving average of $44.94. The stock has a market cap of $2.02 billion, a PE ratio of 11.34 and a beta of 0.97. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. Enterprise Financial Services has a 12-month low of $32.97 and a 12-month high of $54.88.

Enterprise Financial Services (NASDAQ:EFSC) last posted its earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.15. The firm had revenue of $156.02 million during the quarter, compared to analysts’ expectations of $153.41 million. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%. On average, sell-side analysts forecast that Enterprise Financial Services will post 4.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their price objective on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday.

Insider Transactions at Enterprise Financial Services

In related news, Director Richard Sanborn sold 94,815 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.73, for a total value of $5,094,409.95. Following the sale, the director now owns 139,460 shares of the company’s stock, valued at $7,493,185.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

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 primarily in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico. It provides checking, savings, money market accounts, and certificates of deposit.