Enterprise Financial Services (NASDAQ:EFSC) Shares Gap Up After Dividend Announcement

Enterprise Financial Services Corp (NASDAQ:EFSC) shares gapped up before the market opened on Tuesday following a dividend announcement from the company. The stock had previously closed at $51.54, but opened at $53.25. Enterprise Financial Services shares last traded at $52.54, with a volume of 26,332 shares changing hands.

The newly announced dividend which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, December 16th. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 23.98%.

Wall Street Analysts Forecast Growth

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

Enterprise Financial Services Stock Up 0.0 %

The stock’s fifty day simple moving average is $51.19 and its 200-day simple moving average is $45.00. The stock has a market cap of $1.99 billion, a P/E ratio of 11.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The business had revenue of $156.02 million for the quarter, compared to the consensus estimate of $153.41 million. Enterprise Financial Services had a return on equity of 10.95% and a net margin of 19.61%. As a group, research analysts forecast that Enterprise Financial Services Corp will post 4.58 earnings per share for the current fiscal year.

Institutional Trading of Enterprise Financial Services

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in Enterprise Financial Services during the second quarter worth about $29,000. Innealta Capital LLC bought a new stake in shares of Enterprise Financial Services during the 2nd quarter worth approximately $31,000. EntryPoint Capital LLC lifted its holdings in shares of Enterprise Financial Services by 87.4% during the 1st quarter. EntryPoint Capital LLC now owns 3,927 shares of the bank’s stock worth $159,000 after acquiring an additional 1,831 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Enterprise Financial Services by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank’s stock worth $178,000 after acquiring an additional 370 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Enterprise Financial Services in the first quarter valued at approximately $178,000. 72.21% of the stock is owned by institutional investors and hedge funds.

Enterprise Financial Services Company Profile

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.