FY2024 Earnings Forecast for Enterprise Financial Services Corp Issued By DA Davidson (NASDAQ:EFSC)

Enterprise Financial Services Corp (NASDAQ:EFSC) – Research analysts at DA Davidson upped their FY2024 EPS estimates for shares of Enterprise Financial Services in a note issued to investors on Wednesday, July 24th. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings of $4.65 per share for the year, up from their previous forecast of $4.55. 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 $4.32 per share. DA Davidson also issued estimates for Enterprise Financial Services’ FY2025 earnings at $4.70 EPS.

A number of other brokerages have also recently weighed in on EFSC. Keefe, Bruyette & Woods decreased their price target on shares of Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. Piper Sandler upped their price target on shares of Enterprise Financial Services from $45.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.67.

Enterprise Financial Services Stock Up 0.2 %

Shares of NASDAQ EFSC opened at $53.10 on Friday. Enterprise Financial Services has a 52-week low of $32.97 and a 52-week high of $54.88. The firm has a fifty day moving average of $40.82 and a 200-day moving average of $40.38. The stock has a market capitalization of $1.99 billion, a PE ratio of 11.37 and a beta of 0.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.29.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings data on Monday, April 22nd. The bank reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.03). Enterprise Financial Services had a net margin of 19.61% and a return on equity of 11.06%. The company had revenue of $149.89 million for the quarter, compared to analysts’ expectations of $156.04 million.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.27 dividend. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Monday, September 16th. Enterprise Financial Services’s dividend payout ratio is presently 22.27%.

Hedge Funds Weigh In On Enterprise Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EFSC. Vanguard Group Inc. boosted its position in Enterprise Financial Services by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,946,265 shares of the bank’s stock valued at $72,985,000 after buying an additional 14,588 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Enterprise Financial Services by 5.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,338 shares of the bank’s stock valued at $729,000 after buying an additional 853 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Enterprise Financial Services by 8.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,010 shares of the bank’s stock valued at $179,000 after buying an additional 324 shares during the last quarter. Phocas Financial Corp. boosted its position in Enterprise Financial Services by 1.8% in the 4th quarter. Phocas Financial Corp. now owns 228,840 shares of the bank’s stock valued at $10,218,000 after buying an additional 4,060 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Enterprise Financial Services by 9.5% in the 4th quarter. Strs Ohio now owns 4,600 shares of the bank’s stock valued at $205,000 after purchasing an additional 400 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other 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.