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

Enterprise Financial Services Corp (NASDAQ:EFSC) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for Enterprise Financial Services in a note issued to investors 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 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 released its quarterly earnings results on Monday, January 22nd. The bank reported $1.21 EPS for the quarter, beating the consensus estimate of $1.19 by $0.02. Enterprise Financial Services had a net margin of 20.60% and a return on equity of 11.50%. The business had revenue of $166.18 million for the quarter, compared to analysts’ expectations of $157.53 million.

Other analysts have also recently issued reports about the stock. Piper Sandler decreased their price target on shares of 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. Keefe, Bruyette & Woods decreased their price target on shares of Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.75.

Enterprise Financial Services Price Performance

EFSC opened at $38.89 on Thursday. Enterprise Financial Services has a one year low of $32.97 and a one year high of $46.17. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.92. The company’s 50 day simple moving average is $39.39 and its 200-day simple moving average is $40.04. The stock has a market capitalization of $1.46 billion, a P/E ratio of 8.33 and a beta of 0.99.

Hedge Funds Weigh In On Enterprise Financial Services

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Enterprise Financial Services by 263.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,469 shares of the bank’s stock valued at $55,000 after buying an additional 1,065 shares during the period. Emerald Advisers LLC acquired a new position in Enterprise Financial Services in the third quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 during the period. Strs Ohio lifted its holdings in 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 during the period. Finally, Virtu Financial LLC acquired a new stake in Enterprise Financial Services in the fourth quarter worth $216,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.26 dividend. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, June 14th. Enterprise Financial Services’s dividend payout ratio is currently 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.