Equities Analysts Set Expectations for EFSC FY2024 Earnings

Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) - Analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for Enterprise Financial Services in a report released on Wednesday, October 23rd. DA Davidson analyst J. Rulis now forecasts that the bank will earn $4.80 per share for the year, up from their prior forecast of $4.60. The consensus estimate for Enterprise Financial Services' current full-year earnings is $4.58 per share. DA Davidson also issued estimates for Enterprise Financial Services' FY2025 earnings at $4.50 EPS.

Separately, Piper Sandler increased their target price on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday.

Enterprise Financial Services Price Performance

Shares of NASDAQ EFSC traded down $1.43 during midday trading on Friday, hitting $51.67. The company had a trading volume of 96,951 shares, compared to its average volume of 143,339. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.06 and a beta of 0.97. Enterprise Financial Services has a twelve month low of $33.27 and a twelve month high of $54.88. The business has a 50-day simple moving average of $51.30 and a two-hundred day simple moving average of $45.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last issued its earnings results on Monday, July 22nd. The bank reported $1.21 EPS for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $156.02 million for the quarter, compared to analyst estimates of $153.41 million. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in Enterprise Financial Services during the 2nd quarter valued at $29,000. Innealta Capital LLC acquired a new stake in shares of Enterprise Financial Services during the second quarter valued at $31,000. EntryPoint Capital LLC increased its position in Enterprise Financial Services by 87.4% during the 1st quarter. EntryPoint Capital LLC now owns 3,927 shares of the bank's stock worth $159,000 after purchasing an additional 1,831 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Enterprise Financial Services by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank's stock valued at $178,000 after purchasing an additional 370 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Enterprise Financial Services in the 1st quarter valued at about $178,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Enterprise Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 2.17%. Enterprise Financial Services's dividend payout ratio is currently 23.98%.

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.