Enterprise Financial Services Corp (NASDAQ:EFSC) to Issue Dividend Increase - $0.29 Per Share

Enterprise Financial Services Corp (NASDAQ:EFSC - Get Free Report) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given 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 yield of 1.94%. 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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Financial Services to earn $5.30 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 21.1%.

Enterprise Financial Services Trading Down 0.5 %

Shares of NASDAQ EFSC traded down $0.28 during midday trading on Friday, hitting $59.85. The stock had a trading volume of 60,957 shares, compared to its average volume of 147,864. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. Enterprise Financial Services has a 1-year low of $37.28 and a 1-year high of $63.13. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 12.39 and a beta of 1.00. The company has a fifty day moving average price of $57.89 and a 200 day moving average price of $54.04.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.14. Enterprise Financial Services had a net margin of 20.12% and a return on equity of 10.94%. On average, analysts predict that Enterprise Financial Services will post 4.69 earnings per share for the current year.

Analyst Ratings Changes

EFSC has been the topic of several research reports. DA Davidson raised their price objective on Enterprise Financial Services from $67.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $70.00 price target (up from $68.00) on shares of Enterprise Financial Services in a research report on Wednesday. Finally, Piper Sandler increased their price objective on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd.

Insider Buying and Selling at Enterprise Financial Services

In other news, Director Richard Sanborn sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.56, for a total transaction of $5,956,000.00. Following the completion of the transaction, the director now directly owns 40,950 shares in the company, valued at approximately $2,438,982. This represents a 70.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.