FY2024 Earnings Forecast for Enterprise Financial Services Corp Issued By DA Davidson (NASDAQ:EFSC)

Enterprise Financial Services Corp (NASDAQ:EFSC) – Investment analysts at DA Davidson boosted their FY2024 EPS estimates for Enterprise Financial Services in a report issued on Wednesday, July 24th. DA Davidson analyst J. Rulis now expects that the bank will earn $4.65 per share for the year, up from their prior forecast of $4.55. DA Davidson has a “Buy” rating and a $45.00 price objective on the stock. The consensus estimate for Enterprise Financial Services’ current full-year earnings is $4.32 per share. DA Davidson also issued estimates for Enterprise Financial Services’ FY2025 earnings at $4.70 EPS.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, April 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). The firm had revenue of $149.89 million during the quarter, compared to analyst estimates of $156.04 million. Enterprise Financial Services had a return on equity of 11.06% and a net margin of 19.61%.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their price objective on shares of Enterprise Financial Services from $45.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods reduced their target price on shares of Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

Enterprise Financial Services Stock Up 0.2 %

Shares of NASDAQ EFSC opened at $53.10 on Friday. The company’s 50 day moving average price is $40.82 and its 200-day moving average price is $40.38. The company has a market capitalization of $1.99 billion, a P/E ratio of 11.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 0.92. Enterprise Financial Services has a 52-week low of $32.97 and a 52-week high of $54.88.

Institutional Investors Weigh In On Enterprise Financial Services

Several institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Enterprise Financial Services by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 2,295,011 shares of the bank’s stock worth $102,472,000 after buying an additional 150,023 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Enterprise Financial Services by 34.3% during the fourth quarter. Jennison Associates LLC now owns 411,256 shares of the bank’s stock valued at $18,363,000 after purchasing an additional 105,004 shares during the period. Vanguard Group Inc. lifted its stake in Enterprise Financial Services by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 1,994,848 shares of the bank’s stock worth $89,070,000 after acquiring an additional 48,583 shares during the period. Knights of Columbus Asset Advisors LLC lifted its stake in Enterprise Financial Services by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 96,170 shares of the bank’s stock worth $4,294,000 after acquiring an additional 46,739 shares during the period. Finally, Phocas Financial Corp. lifted its stake in Enterprise Financial Services by 1.8% in the fourth quarter. Phocas Financial Corp. now owns 228,840 shares of the bank’s stock worth $10,218,000 after acquiring an additional 4,060 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.27 dividend. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, September 16th. Enterprise Financial Services’s payout ratio is 22.27%.

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.