DA Davidson Comments on Enterprise Financial Services Corp’s Q2 2024 Earnings (NASDAQ:EFSC)

Enterprise Financial Services Corp (NASDAQ:EFSC) – Research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Enterprise Financial Services in a report released on Wednesday, April 24th. DA Davidson analyst J. Rulis expects that the bank will post earnings of $1.11 per share for the quarter. 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 $4.47 per share. DA Davidson also issued estimates for Enterprise Financial Services’ FY2024 earnings at $4.55 EPS and FY2025 earnings at $4.60 EPS.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings results on Monday, January 22nd. The bank reported $1.21 EPS for the quarter, topping the consensus estimate of $1.19 by $0.02. The business had revenue of $166.18 million for the quarter, compared to analyst estimates of $157.53 million. Enterprise Financial Services had a return on equity of 11.50% and a net margin of 20.60%.

Several other brokerages have also commented on EFSC. Keefe, Bruyette & Woods decreased their price target on Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Wednesday. Piper Sandler reduced their target price on Enterprise Financial Services from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.75.

Enterprise Financial Services Price Performance

Shares of NASDAQ:EFSC opened at $39.13 on Thursday. The business’s 50 day simple moving average is $39.40 and its 200-day simple moving average is $40.04. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.92. Enterprise Financial Services has a 12 month low of $32.97 and a 12 month high of $46.17.

Institutional Investors Weigh In On Enterprise Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Enterprise Financial Services in the 3rd quarter valued at $275,000. HGK Asset Management Inc. raised its holdings in Enterprise Financial Services by 16.6% in the 3rd quarter. HGK Asset Management Inc. now owns 11,466 shares of the bank’s stock valued at $430,000 after acquiring an additional 1,634 shares during the last quarter. Dakota Wealth Management acquired a new position in Enterprise Financial Services in the 3rd quarter valued at $201,000. Bank of New York Mellon Corp raised its holdings in Enterprise Financial Services by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 211,918 shares of the bank’s stock valued at $7,947,000 after acquiring an additional 5,394 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Enterprise Financial Services by 26.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,012 shares of the bank’s stock valued at $300,000 after acquiring an additional 1,668 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.66%. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.25. Enterprise Financial Services’s dividend payout ratio is presently 21.41%.

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.