Regional banking company Enterprise Financial Services (NASDAQ: EFSC) will be reporting earnings this Wednesday afternoon. Here’s what you need to know.
Enterprise Financial Services beat analysts’ revenue expectations last quarter, reporting revenues of $191 million, up 12.8% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ revenue estimates but EPS in line with analysts’ estimates.
Is Enterprise Financial Services a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Enterprise Financial Services’s revenue to grow 10.8% year on year, in line with the 10.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Enterprise Financial Services rarely misses Wall Street’s revenue estimates.
Looking at Enterprise Financial Services’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Wintrust Financial delivered year-on-year revenue growth of 11.4%, beating analysts’ expectations by 1.2%, and BancFirst reported revenues up 7.8%, topping estimates by 1%. BancFirst traded up 3.6% following the results.
Read our full analysis of Wintrust Financial’s results here and BancFirst’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 10.2% on average over the last month. Enterprise Financial Services is up 7.6% during the same time and is heading into earnings with an average analyst price target of $65.50 (compared to the current share price of $58.53).
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