Enterprise Financial Services Corp Announces Share Repurchase Program

Rhea-AI Summary

Enterprise Financial Services Corp (Nasdaq: EFSC) has announced a new share repurchase program, replacing the previous one from May 4, 2015. The company is authorized to repurchase up to 2,000,000 shares of its common stock on the open market or through private transactions. This new initiative aims to enhance shareholder value by potentially increasing earnings per share (EPS) and demonstrating the company’s confidence in its financial standing.

Positive

• Authorized to repurchase up to 2,000,000 shares, enhancing shareholder value.
• Potential increase in earnings per share (EPS) due to reduced share count.

Negative

• None.

Enterprise Financial Services Corp (Nasdaq: EFSC) (the “Company,”), previously disclosed on Form 10-Q filed with the U.S. Securities and Exchange Commission on April 30, 2021, 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 2,000,000 shares of its common stock from time to time in the open market or through privately negotiated transactions.

About Enterprise Financial Services Corp:

Enterprise Financial Services Corp (Nasdaq: EFSC), with approximately $10.2 billion in assets, is a financial holding company headquartered in Clayton, Missouri. Enterprise Bank & Trust, a Missouri state-chartered trust company with banking powers and a wholly-owned subsidiary of EFSC, operates 39 branch offices in Arizona, California, Kansas, Missouri, Nevada, and New Mexico, and SBA loan and deposit production offices in Arizona, California, Colorado, Illinois, Indiana, Massachusetts, Michigan, Nevada, Ohio, Oregon, Texas, Utah, and Washington. Enterprise Bank & Trust offers a range of business and personal banking services and wealth management services. Enterprise Trust, a division of Enterprise Bank & Trust, provides financial planning, estate planning, investment management and trust services to businesses, individuals, institutions, retirement plans and non-profit organizations. Additional information is available at www.enterprisebank.com.

Enterprise Financial Services Corp’s common stock is traded on the Nasdaq Stock Market under the symbol “EFSC.” Please visit our website at www.enterprisebank.com to see our regularly posted material information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210504005367/en/

FAQ

What is the new share repurchase program for EFSC?

Enterprise Financial Services Corp approved a new share repurchase program allowing for the buyback of up to 2,000,000 shares of common stock.

When was the previous share repurchase program for EFSC replaced?

The previous share repurchase program was replaced on April 30, 2021.

How will the share buyback impact EFSC's stock price?

The share buyback may enhance shareholder value and could lead to an increase in the stock price by raising earnings per share.