Enterprise Financial Services (NASDAQ:EFSC) Given New $66.00 Price Target at Keefe, Bruyette & Woods

Enterprise Financial Services (NASDAQ:EFSC) had its price target lowered by Keefe, Bruyette & Woods from $68.00 to $66.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

A number of other analysts have also commented on the company. Piper Sandler decreased their target price on Enterprise Financial Services from $64.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday. Wall Street Zen raised Enterprise Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Financial Services in a research report on Wednesday, October 8th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $69.00 price target on shares of Enterprise Financial Services in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Enterprise Financial Services has an average rating of “Moderate Buy” and an average target price of $65.67.

Enterprise Financial Services Stock Performance

Shares of Enterprise Financial Services stock opened at $52.37 on Wednesday. Enterprise Financial Services has a one year low of $45.22 and a one year high of $63.13. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.19 and a beta of 0.88. The business has a 50-day simple moving average of $58.29 and a 200 day simple moving average of $55.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.88 and a quick ratio of 0.88.

Enterprise Financial Services (NASDAQ:EFSC) last issued its earnings results on Monday, October 27th. The bank reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.10). Enterprise Financial Services had a net margin of 19.98% and a return on equity of 10.98%. The firm had revenue of ($325.26) million during the quarter, compared to the consensus estimate of $176.52 million. On average, research analysts anticipate that Enterprise Financial Services will post 4.97 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.31. Enterprise Financial Services’s payout ratio is 23.53%.

Insider Activity at Enterprise Financial Services

In other news, Director Michael E. Finn bought 1,500 shares of the company’s stock in a transaction on Monday, August 4th. The shares were purchased at an average price of $54.11 per share, with a total value of $81,165.00. Following the transaction, the director directly owned 3,000 shares in the company, valued at $162,330. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enterprise Financial Services

Several hedge funds have recently modified their holdings of EFSC. First Horizon Corp bought a new position in shares of Enterprise Financial Services during the 3rd quarter worth approximately $26,000. Summit Securities Group LLC bought a new position in shares of Enterprise Financial Services during the 1st quarter worth approximately $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Enterprise Financial Services by 929.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank’s stock worth $35,000 after buying an additional 576 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Enterprise Financial Services by 302.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 793 shares of the bank’s stock worth $43,000 after buying an additional 596 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Enterprise Financial Services by 83.6% during the 1st quarter. CWM LLC now owns 1,252 shares of the bank’s stock worth $67,000 after buying an additional 570 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

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.