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

Enterprise Financial Services Corp (NASDAQ:EFSC) – Stock analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Enterprise Financial Services in a report issued on Wednesday, April 24th. DA Davidson analyst J. Rulis forecasts that the bank will post earnings of $1.11 per share for the quarter. DA Davidson currently has a “Buy” rating and a $45.00 target price 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.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler cut their price target on Enterprise Financial Services from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Keefe, Bruyette & Woods cut their price target on Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.75.

Enterprise Financial Services Stock Performance

EFSC opened at $39.13 on Thursday. The business’s 50 day moving average is $39.40 and its 200-day moving average is $40.04. The stock has a market cap of $1.47 billion, a PE ratio of 8.38 and a beta of 0.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.28. Enterprise Financial Services has a twelve month low of $32.97 and a twelve month high of $46.17.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings results on Monday, January 22nd. The bank reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $166.18 million for the quarter, compared to analysts’ expectations of $157.53 million. Enterprise Financial Services had a return on equity of 11.50% and a net margin of 20.60%.

Institutional Investors Weigh In On Enterprise Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Enterprise Financial Services by 263.6% during the third quarter. PNC Financial Services Group Inc. now owns 1,469 shares of the bank’s stock worth $55,000 after purchasing an additional 1,065 shares in the last quarter. Emerald Advisers LLC bought a new position in shares of Enterprise Financial Services in the third quarter valued at $67,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Enterprise Financial Services by 14.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,686 shares of the bank’s stock valued at $138,000 after buying an additional 466 shares in the last quarter. Strs Ohio increased its holdings in shares of Enterprise Financial Services by 9.5% in the fourth quarter. Strs Ohio now owns 4,600 shares of the bank’s stock valued at $205,000 after buying an additional 400 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Enterprise Financial Services in the fourth quarter valued at $216,000. Institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Increases Dividend

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

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.