Enterprise Financial Services Corp (NASDAQ:EFSC) Declares Quarterly Dividend of $0.29

Enterprise Financial Services Corp (NASDAQ:EFSC) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.29 per share by the bank on Monday, March 31st. This represents a $1.16 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.28.

Enterprise Financial Services has raised its dividend payment by an average of 12.2% per year over the last three years. Enterprise Financial Services has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Financial Services to earn $4.56 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 24.6%.

Enterprise Financial Services Price Performance

Shares of Enterprise Financial Services stock opened at $60.04 on Wednesday. The firm has a fifty day moving average price of $57.87 and a two-hundred day moving average price of $53.96. Enterprise Financial Services has a fifty-two week low of $37.28 and a fifty-two week high of $63.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $2.23 billion, a PE ratio of 12.72 and a beta of 1.00.

Enterprise Financial Services (NASDAQ:EFSC) last released its earnings results on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. Analysts expect that Enterprise Financial Services will post 4.77 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EFSC. Keefe, Bruyette & Woods boosted their price objective on Enterprise Financial Services from $59.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler boosted their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd.

Insiders Place Their Bets

In other Enterprise Financial Services news, Director Richard Sanborn sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.56, for a total value of $5,956,000.00. Following the sale, the director now directly owns 40,950 shares in the company, valued at $2,438,982. This represents a 70.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

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.