|Over a month ago|
Enterprise Financial reports Q2 EPS $1.23, consensus $1.10 » 16:0507/2607/26/21
Jim Lally, EFSC's…
Jim Lally, EFSC's President and Chief Executive Officer, commented, "We have successfully navigated the challenges posed over the past year due to the pandemic, while also completing the acquisition and integration of Seacoast. These successes are evident in our second quarter results that produced a record net income of $38.4 million and a strong pre-provision net revenue ("PPNR") return on average assets of 1.85%. Core loan growth accelerated during the period, with solid growth in C&I and our specialty niches, partially offset by PPP forgiveness. Fee income rebounded from the first quarter, net interest margin was stable and our expenses were well-controlled. Continued improvement in the economic forecast and our improving asset quality metrics led to an allowance release of $2.7 million in the quarter, while still maintaining a significant allowance coverage ratio of 2.09% when excluding guaranteed loans. The strength of our operating fundamentals supported an increase of our dividend by approximately 6% and the repurchase of $12 million of stock during the quarter as a way to provide an additional return to our shareholders."
|Over a quarter ago|
Enterprise Financial announces 2M share repurchase program » 10:0105/0405/04/21
Enterprise Financial Services previously disclosed on Form 10-Q filed with the U.S. SEC on April 30 that the company's Board of Directors approved a new share repurchase program, which replaces and supersedes the prior share repurchase program announced on May 4, 2015. Pursuant to the new share repurchase program, the company will be authorized to repurchase up to 2M shares of its common stock from time to time in the open market or through privately negotiated transactions.
Fly Intel: After-Hours Movers » 18:4804/2604/26/21
WIRE, HSTM, TBI, BRO, SBAC, LU, PCH, NXPI, FCBP, EFSC, RETA, LYFT, CDNS, TNET, TSLA, HYFM
Check out this evening's…
Enterprise Financial reports Q1 EPS 96c, consensus 88c » 16:0504/2604/26/21
Jim Lally, EFSC's…
Jim Lally, EFSC's President and Chief Executive Officer, commented, 'Today we announced the acquisition of First Choice headquartered in Cerritos, California. This transaction strengthens our California presence with a pro forma asset base of $3.8 billion. I am excited about how this adds to our expected growth prospects and diversification of our business, particularly in close proximity to the successful first quarter core systems integration for Seacoast. We are off to a solid start in 2021, with earnings of $0.96 per share and continued execution on the Paycheck Protection Program ("PPP") for the benefit of our customers. In addition, we issued our inaugural Environmental, Social and Governance report during March. I am pleased that we have taken the first step in reporting our ESG efforts and demonstrating the importance of our ESG objectives in meeting our mission."
Enterprise Financial to acquire First Choice Bancorp for $397.7M » 16:0404/2604/26/21
Enterprise Financial (EFSC) and First Choice Bancorp (FCBP) announced that EFSC, EB&T, FCBP and First Choice have entered into a definitive merger agreement pursuant to which EFSC will acquire, in an all-stock merger, FCBP. Under the terms of the merger agreement, FCBP will merge with and into EFSC, and First Choice will subsequently merge with and into EB&T in a transaction valued at approximately $397.7 million, or $33.40 per FCBP share, based on the closing price of EFSC's common stock on April 23, 2021. On a pro forma consolidated basis, the combined company would have approximately $12.7 billion in consolidated total assets as of March 31, 2021. The transaction is expected to be approximately 8% accretive to Enterprise's 2022 earnings per share after giving effect to estimated fully phased-in transaction synergies. Estimated tangible book value per share dilution to EFSC is expected to be earned back in less than three years under the crossover method including CECL "Day Two" accounting treatment. The acquisition is expected to generate an internal rate of return of approximately 21% for Enterprise.
Enterprise Financial reports Q4 EPS $1.00, consensus 69c » 16:1501/2501/25/21
Reports Q4 revenue…
Reports Q4 revenue $95.9M, consensus $82.02M. Reports Q4 net interest margin 3.66% vs. 3.68% last year. Reports Q4 provision for loan losses $9.46M vs. $1.34M last year.
Enterprise Financial price target raised to $40 from $35 at Raymond James » 08:3812/0112/01/20
Raymond James analyst…
Raymond James analyst David Long raised the firm's price target on Enterprise Financial to $40 from $35 and keeps an Outperform rating on the shares after hosting virtual investor meetings featuring CEO James Lally, CFO Keene Turner, and several other executives of the bank. Long says the meetings tones were "cautiously optimistic" weighing the near-term NIM pressure and uncertainties related to loan losses against the bank's attractive setup for long-term outperformance. The analyst continues to view Enterprise as a highly profitable, emerging Midwest regional bank with a well-diversified operating footprint.
Enterprise Financial reports Q3 ex-PPP EPS 53c, consensus 91c » 16:0410/1910/19/20
Jim Lally, EFSC's…
Jim Lally, EFSC's President and Chief Executive Officer, commented, "Today we reported earnings of $0.68 per diluted share for the third quarter. These financial results reflect solid performance with pre-provision net revenue of $38.0 million, or 1.81% of average assets. Given the ongoing economic uncertainty, we continued to build our allowance for credit losses, and our earnings profile allowed us to also build capital during the third quarter. As we move into the end of 2020, we remain well positioned to continue to support our customers, complete the acquisition of Seacoast and execute on our business plans."