Enterprise Financial Services Corp (NASDAQ:EFSC) Increases Dividend to $0.29 Per Share

Enterprise Financial Services Corp (NASDAQ:EFSC) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.29 per share by the bank on Monday, March 31st. This represents a $1.16 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.28.

Enterprise Financial Services has increased its dividend payment by an average of 12.2% annually over the last three years. Enterprise Financial Services has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Enterprise Financial Services to earn $4.56 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 24.6%.

Enterprise Financial Services Stock Performance

EFSC stock opened at $59.94 on Thursday. The company has a market capitalization of $2.23 billion, a P/E ratio of 12.70 and a beta of 1.00. The company has a 50-day simple moving average of $57.89 and a 200 day simple moving average of $54.00. Enterprise Financial Services has a fifty-two week low of $37.28 and a fifty-two week high of $63.13. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings data on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.14. Enterprise Financial Services had a net margin of 19.73% and a return on equity of 10.81%. Sell-side analysts predict that Enterprise Financial Services will post 4.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EFSC. DA Davidson upped their price objective on shares of Enterprise Financial Services from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. Piper Sandler boosted their target price on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $70.00 target price (up from $68.00) on shares of Enterprise Financial Services in a report on Wednesday.

Insider Transactions at Enterprise Financial Services

In other news, Director Richard Sanborn sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $59.56, for a total value of $5,956,000.00. Following the transaction, the director now owns 40,950 shares in the company, valued at $2,438,982. This represents a 70.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by insiders.

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.