Enterprise Financial Services Corp (NASDAQ:EFSC) Expected to Earn Q3 2024 Earnings of $1.14 Per Share

Enterprise Financial Services Corp (NASDAQ:EFSC) – Analysts at DA Davidson decreased their Q3 2024 earnings estimates for Enterprise Financial Services in a research note issued on Thursday, October 3rd. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings per share of $1.14 for the quarter, down from their prior forecast of $1.15. The consensus estimate for Enterprise Financial Services’ current full-year earnings is $4.60 per share.

Separately, Piper Sandler raised 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 note on Wednesday, July 24th.

Enterprise Financial Services Stock Performance

NASDAQ EFSC opened at $49.94 on Friday. The firm has a 50-day moving average of $50.80 and a 200-day moving average of $43.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $1.87 billion, a PE ratio of 10.66 and a beta of 0.97. Enterprise Financial Services has a 52-week low of $32.97 and a 52-week high of $54.88.

Enterprise Financial Services (NASDAQ:EFSC) last posted its earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $156.02 million during the quarter, compared to analysts’ expectations of $153.41 million. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.27 dividend. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, September 16th. This represents a $1.08 annualized dividend and a yield of 2.16%. Enterprise Financial Services’s payout ratio is 23.13%.

Insiders Place Their Bets

In other Enterprise Financial Services news, Director Richard Sanborn sold 94,815 shares of Enterprise Financial Services stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.73, for a total value of $5,094,409.95. Following the completion of the sale, the director now owns 139,460 shares in the company, valued at $7,493,185.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Enterprise Financial Services

Several hedge funds have recently bought and sold shares of EFSC. F M Investments LLC bought a new position in Enterprise Financial Services in the 2nd quarter valued at about $8,884,000. Wellington Management Group LLP increased its holdings in Enterprise Financial Services by 7.0% in the 4th quarter. Wellington Management Group LLP now owns 2,295,011 shares of the bank’s stock valued at $102,472,000 after buying an additional 150,023 shares during the period. American Century Companies Inc. increased its holdings in Enterprise Financial Services by 19.1% in the 2nd quarter. American Century Companies Inc. now owns 655,490 shares of the bank’s stock valued at $26,816,000 after buying an additional 104,960 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Enterprise Financial Services by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank’s stock valued at $85,257,000 after purchasing an additional 71,502 shares during the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Enterprise Financial Services by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,955,988 shares of the bank’s stock valued at $80,019,000 after purchasing an additional 59,809 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

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.