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. Investors 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 annualized dividend and a dividend yield of 2.71%. 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 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% indicating that 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

Shares of Enterprise Financial Services stock traded down $0.78 during midday trading on Wednesday, hitting $38.42. The company had a trading volume of 17,071 shares, compared to its average volume of 141,056. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 8.39 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 company has a fifty 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.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $1.21 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $166.18 million during the quarter, compared to analyst estimates of $157.53 million. As a group, analysts predict that Enterprise Financial Services will post 4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Enterprise Financial Services from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Piper Sandler reduced their price target on shares of 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.

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.