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

Enterprise Financial Services Corp (NASDAQ:EFSC) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Stockholders 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 dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.28.

Enterprise Financial Services has raised its dividend by an average of 12.2% annually over the last three years. Enterprise Financial Services has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 4.3 %

Shares of NASDAQ:EFSC traded up $2.48 during trading on Tuesday, reaching $60.04. The stock had a trading volume of 238,841 shares, compared to its average volume of 150,489. The firm’s 50-day simple moving average is $57.84 and its 200 day simple moving average is $53.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. Enterprise Financial Services has a one year low of $37.28 and a one year high of $63.13. The company has a market capitalization of $2.23 billion, a P/E ratio of 12.72 and a beta of 1.00.

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

Insider Transactions at Enterprise Financial Services

In other Enterprise Financial Services news, Director Richard Sanborn sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

EFSC has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Enterprise Financial Services from $59.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th.

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.