Enterprise Financial Services Corporation (NASDAQ:EFSC) Plans Quarterly Dividend of $0.36

Key Points

• Enterprise Financial Services raised its quarterly dividend 2.9% to $0.36 per share, payable December 31 to shareholders of record on December 15. The dividend implies a $1.44 annualized payout and a 2.4% yield.
• The dividend appears well covered, with a 25.6% payout ratio and 11 consecutive years of annual increases. Analysts expect a future payout ratio of approximately 23.7%.
• EFSC’s shares recently traded near $60.14, while analysts maintain a “Moderate Buy” consensus and a $70 average price target. The bank’s latest quarterly EPS of $1.17 missed the $1.38 consensus estimate.

Enterprise Financial Services Corporation (NASDAQ:EFSC - Get Free Report) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.36 per share by the bank on Thursday, December 31st. This represents a $1.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 15th. This is a 2.9% increase from Enterprise Financial Services's previous quarterly dividend of $0.35.

Enterprise Financial Services has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Enterprise Financial Services has a payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Financial Services to earn $5.91 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 23.7%.

Enterprise Financial Services Price Performance

Shares of NASDAQ EFSC traded down $0.11 during midday trading on Thursday, hitting $60.14. 38,696 shares of the company's stock were exchanged, compared to its average volume of 241,532. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. The business's fifty day moving average price is $61.97 and its two-hundred day moving average price is $62.17. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 11.95 and a beta of 0.82. Enterprise Financial Services has a 12-month low of $51.18 and a 12-month high of $68.73.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its earnings results on Wednesday, October 21st. The bank reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.21). Enterprise Financial Services had a net margin of 18.72% and a return on equity of 9.70%. The company had revenue of $192.53 million during the quarter, compared to analysts' expectations of $193.09 million. As a group, research analysts forecast that Enterprise Financial Services will post 5.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EFSC. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Financial Services in a report on Tuesday, October 6th. Keefe, Bruyette & Woods increased their target price on Enterprise Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Benchmark upgraded Enterprise Financial Services to a "strong-buy" rating in a research report on Wednesday, September 23rd. Piper Sandler raised their price target on Enterprise Financial Services from $67.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Raymond James Financial lifted their price target on Enterprise Financial Services from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Enterprise Financial Services has an average rating of "Moderate Buy" and a consensus target price of $70.00.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. is a financial holding company headquartered in Clayton, Missouri. Its principal subsidiary, Enterprise Bank & Trust, provides banking and financial services to businesses, professionals, institutions and individuals.

The company offers commercial and small-business lending, deposit accounts, treasury management, private banking, wealth management, trust and estate services, and other financial solutions. Its commercial banking capabilities include financing for working capital, equipment, real estate and business expansion.

Enterprise Bank & Trust serves customers through banking markets that include St.

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