Enterprise Financial Services Corp (NASDAQ:EFSC) Announces Dividend Increase – $0.26 Per Share

Enterprise Financial Services Corp (NASDAQ:EFSC) announced 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 dividend on an annualized basis and a yield of 2.70%. 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 raised its dividend 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 payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Equities 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

NASDAQ:EFSC traded down $0.69 during trading hours on Wednesday, reaching $38.51. The stock had a trading volume of 48,201 shares, compared to its average volume of 141,494. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.92 and a current 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. Enterprise Financial Services has a 12-month low of $32.97 and a 12-month high of $46.17. The stock has a market cap of $1.44 billion, a P/E ratio of 8.19 and a beta of 0.99.

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, topping 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 during the quarter, compared to the consensus estimate of $157.53 million. On average, research analysts forecast that Enterprise Financial Services will post 4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler decreased their target price on Enterprise Financial Services from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods reduced their price target on Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Wednesday.

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.