Enterprise Financial Services Corp (NASDAQ:EFSC) to Issue Quarterly Dividend of $0.27

Enterprise Financial Services Corp (NASDAQ:EFSC) announced a quarterly dividend on Monday, July 22nd, Zacks reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.27 per share by the bank on Monday, September 30th. This represents a $1.08 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.26.

Enterprise Financial Services has raised its dividend payment by an average of 11.6% per year over the last three years. Enterprise Financial Services has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Enterprise Financial Services to earn $4.51 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 23.9%.

Enterprise Financial Services Price Performance

Enterprise Financial Services stock opened at $51.44 on Friday. The business’s 50 day simple moving average is $49.43 and its 200 day simple moving average is $42.67. Enterprise Financial Services has a 12 month low of $32.97 and a 12 month high of $54.88. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 11.01 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The firm had revenue of $156.02 million for the quarter, compared to analysts’ expectations of $153.41 million. Enterprise Financial Services had a return on equity of 10.95% and a net margin of 19.61%. Sell-side analysts forecast that Enterprise Financial Services will post 4.6 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Richard Sanborn sold 94,815 shares of Enterprise Financial Services stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $53.73, for a total value of $5,094,409.95. Following the completion of the transaction, the director now directly owns 139,460 shares in the company, valued at $7,493,185.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

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.