Enterprise Financial Services Corp (NASDAQ:EFSC) Increases 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 given a dividend of 0.26 per share by the bank on Friday, June 28th. This represents a $1.04 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change 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% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Enterprise Financial Services has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

EFSC traded down $1.07 during trading on Wednesday, hitting $38.13. 30,586 shares of the stock were exchanged, compared to its average volume of 141,283. The firm has a market capitalization of $1.43 billion, a P/E ratio of 8.23 and a beta of 0.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $39.40 and a two-hundred day moving average price of $40.04. Enterprise Financial Services has a 1-year low of $32.97 and a 1-year high of $46.17.

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

Wall Street Analyst Weigh In

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