DA Davidson Comments on Enterprise Financial Services Corp’s Q3 2024 Earnings (NASDAQ:EFSC)

Enterprise Financial Services Corp (NASDAQ:EFSC) – DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Enterprise Financial Services in a report issued on Wednesday, July 24th. DA Davidson analyst J. Rulis expects that the bank will post earnings of $1.15 per share for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 price target on the stock. The consensus estimate for Enterprise Financial Services’ current full-year earnings is $4.32 per share.

Several other analysts have also weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Piper Sandler boosted their price objective on Enterprise Financial Services from $45.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday.

Enterprise Financial Services Stock Up 1.7 %

Shares of Enterprise Financial Services stock opened at $54.00 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.02 billion, a P/E ratio of 11.56 and a beta of 0.99. Enterprise Financial Services has a fifty-two week low of $32.97 and a fifty-two week high of $54.88. The business has a 50-day moving average price of $41.08 and a 200 day moving average price of $40.45.

Hedge Funds Weigh In On Enterprise Financial Services

Several institutional investors have recently made changes to their positions in the stock. Bailard Inc. bought a new position in shares of Enterprise Financial Services during the second quarter valued at approximately $413,000. Bank of New York Mellon Corp grew its holdings in shares of Enterprise Financial Services by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 212,285 shares of the bank’s stock valued at $8,685,000 after purchasing an additional 7,667 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Enterprise Financial Services in the 2nd quarter worth approximately $1,394,000. Boston Partners bought a new position in Enterprise Financial Services in the 1st quarter worth approximately $873,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Enterprise Financial Services by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,824 shares of the bank’s stock worth $1,007,000 after buying an additional 1,269 shares in the last quarter. 72.21% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Richard Sanborn sold 94,815 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.73, for a total transaction of $5,094,409.95. Following the completion of the transaction, the director now directly owns 139,460 shares of the company’s stock, valued at $7,493,185.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.27 per share. The ex-dividend date is Monday, September 16th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.00%. Enterprise Financial Services’s dividend payout ratio is 22.27%.

Enterprise Financial Services Company Profile

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.