Enterprise Financial Services Corp (NASDAQ:EFSC) Increases Dividend to $0.26 Per Share

Enterprise Financial Services Corp (NASDAQ:EFSC - Get Free Report) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Friday, June 14th will be given 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 2.66%. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.25.

Enterprise Financial Services has increased its dividend by an average of 11.6% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Enterprise Financial Services has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. 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 Down 0.2 %

NASDAQ:EFSC traded down $0.07 during midday trading on Wednesday, reaching $39.13. The company had a trading volume of 256,510 shares, compared to its average volume of 144,172. The stock's fifty day simple moving average is $39.40 and its 200-day simple moving average is $40.04. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.28. Enterprise Financial Services has a 12-month low of $32.97 and a 12-month high of $46.17. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.38 and a beta of 0.99.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its quarterly earnings data on Monday, January 22nd. The bank reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.02. Enterprise Financial Services had a return on equity of 11.50% and a net margin of 20.60%. The business had revenue of $166.18 million during the quarter, compared to the consensus estimate of $157.53 million. On average, sell-side analysts anticipate that Enterprise Financial Services will post 4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on EFSC. Piper Sandler dropped their target price on Enterprise Financial Services from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, January 24th. DA Davidson dropped their price objective on Enterprise Financial Services from $47.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their target price on Enterprise Financial Services from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Enterprise Financial Services currently has an average rating of "Moderate Buy" and a consensus price target of $47.75.

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.