Enterprise Financial Services Corp (NASDAQ:EFSC) Raises 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 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.27.

Enterprise Financial Services has raised its dividend payment by an average of 11.6% annually over the last three years. Enterprise Financial Services has a payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Up 2.8 %

EFSC opened at $52.98 on Wednesday. The business’s fifty day simple moving average is $51.09 and its 200 day simple moving average is $44.94. Enterprise Financial Services has a 52 week low of $32.97 and a 52 week high of $54.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.99 billion, a PE ratio of 11.34 and a beta of 0.97.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $156.02 million for the quarter, compared to analysts’ expectations 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 expect that Enterprise Financial Services will post 4.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their price objective on shares of Enterprise Financial Services from $45.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th.

Insider Activity at Enterprise Financial Services

In other Enterprise Financial Services news, Director Richard Sanborn sold 94,815 shares of Enterprise Financial Services stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.73, for a total value of $5,094,409.95. Following the transaction, the director now directly owns 139,460 shares of the company’s stock, valued at $7,493,185.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

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.