Enterprise Financial Services (NASDAQ:EFSC) Price Target Raised to $70.00 at DA Davidson

Enterprise Financial Services (NASDAQ:EFSC) had its target price lifted by DA Davidson from $67.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Several other equities research analysts also recently issued reports on EFSC. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $70.00 price objective (up from $68.00) on shares of Enterprise Financial Services in a research note on Wednesday. Piper Sandler upped their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd.

Enterprise Financial Services Trading Down 0.2 %

EFSC stock opened at $59.94 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 12.70 and a beta of 1.00. The business has a fifty day simple moving average of $57.89 and a 200-day simple moving average of $54.00. Enterprise Financial Services has a 52 week low of $37.28 and a 52 week high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings data on Monday, January 27th. The bank reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. On average, equities research analysts expect that Enterprise Financial Services will post 4.77 EPS for the current year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.28. Enterprise Financial Services’s dividend payout ratio (DPR) is currently 23.73%.

Insider Transactions at Enterprise Financial Services

In related news, Director Richard Sanborn sold 100,000 shares of Enterprise Financial Services stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total transaction of $5,956,000.00. Following the sale, the director now owns 40,950 shares of the company’s stock, valued at $2,438,982. The trade was a 70.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Enterprise Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of EFSC. Wealth Enhancement Advisory Services LLC increased its holdings in Enterprise Financial Services by 7.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,141 shares of the bank’s stock worth $403,000 after purchasing an additional 502 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Enterprise Financial Services in the fourth quarter worth $29,000. Harbor Capital Advisors Inc. raised its holdings in Enterprise Financial Services by 6.0% in the third quarter. Harbor Capital Advisors Inc. now owns 11,339 shares of the bank’s stock valued at $581,000 after acquiring an additional 645 shares in the last quarter. FMR LLC boosted its stake in Enterprise Financial Services by 34.2% during the 3rd quarter. FMR LLC now owns 2,560 shares of the bank’s stock valued at $131,000 after acquiring an additional 653 shares during the last quarter. Finally, Quarry LP grew its holdings in Enterprise Financial Services by 2,593.5% during the 3rd quarter. Quarry LP now owns 835 shares of the bank’s stock worth $43,000 after acquiring an additional 804 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.