Q3 2024 EPS Estimates for Enterprise Financial Services Corp Decreased by DA Davidson (NASDAQ:EFSC)

Enterprise Financial Services Corp (NASDAQ:EFSC) – DA Davidson decreased their Q3 2024 earnings estimates for shares of Enterprise Financial Services in a report issued on Thursday, October 3rd. DA Davidson analyst J. Rulis now expects that the bank will post earnings per share of $1.14 for the quarter, down from their previous estimate of $1.15. The consensus estimate for Enterprise Financial Services’ current full-year earnings is $4.60 per share.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%. The company had revenue of $156.02 million during the quarter, compared to analyst estimates of $153.41 million.

Separately, Piper Sandler raised their target price on shares of Enterprise Financial Services from $45.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th.

Enterprise Financial Services Stock Performance

NASDAQ:EFSC opened at $49.94 on Friday. Enterprise Financial Services has a twelve month low of $32.97 and a twelve month high of $54.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $50.72 and a 200-day moving average of $43.86. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 10.69 and a beta of 0.97.

Hedge Funds Weigh In On Enterprise Financial Services

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Enterprise Financial Services in the third quarter worth $522,000. Point72 Asset Management L.P. grew its stake in shares of Enterprise Financial Services by 61.9% in the second quarter. Point72 Asset Management L.P. now owns 9,391 shares of the bank’s stock worth $384,000 after acquiring an additional 3,591 shares during the last quarter. Creative Planning grew its stake in shares of Enterprise Financial Services by 10.4% in the second quarter. Creative Planning now owns 37,030 shares of the bank’s stock worth $1,515,000 after acquiring an additional 3,474 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Enterprise Financial Services by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 19,177 shares of the bank’s stock worth $785,000 after acquiring an additional 819 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in shares of Enterprise Financial Services by 3.2% in the second quarter. Earnest Partners LLC now owns 1,955,988 shares of the bank’s stock worth $80,019,000 after acquiring an additional 59,809 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Insider Transactions at Enterprise Financial Services

In related news, Director Richard Sanborn sold 94,815 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.73, for a total transaction of $5,094,409.95. Following the transaction, the director now owns 139,460 shares of the company’s stock, valued at approximately $7,493,185.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.16%. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, September 16th. Enterprise Financial Services’s dividend payout ratio is 23.13%.

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.