Enterprise Financial Services Corp (NASDAQ:EFSC) Raises Dividend to $0.26 Per Share

Enterprise Financial Services Corp (NASDAQ:EFSC) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.26 per share by the bank on Friday, June 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, June 14th. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.25.

Enterprise Financial Services has increased its dividend payment by an average of 11.6% per year over the last three years and has increased its dividend every year for the last 6 years. Enterprise Financial Services has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Enterprise Financial Services to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.5%.

Enterprise Financial Services Price Performance

NASDAQ EFSC traded down $0.78 on Wednesday, reaching $38.42. 17,071 shares of the company’s stock traded hands, compared to its average volume of 141,056. Enterprise Financial Services has a 12 month low of $32.97 and a 12 month high of $46.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $39.40 and a 200 day simple moving average of $40.04. The stock has a market cap of $1.44 billion, a PE ratio of 8.39 and a beta of 0.99.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. Enterprise Financial Services had a net margin of 20.60% and a return on equity of 11.50%. The business had revenue of $166.18 million for the quarter, compared to analysts’ expectations of $157.53 million. As a group, research analysts predict that Enterprise Financial Services will post 4.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EFSC shares. Keefe, Bruyette & Woods dropped their price objective on Enterprise Financial Services from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Piper Sandler dropped their price target on Enterprise Financial Services from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th.

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.