Enterprise Financial Services (NASDAQ:EFSC) Hits New 12-Month High – Should You Buy?

Enterprise Financial Services Corp (NASDAQ:EFSC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $62.26 and last traded at $62.26, with a volume of 258 shares trading hands. The stock had previously closed at $60.74.

Analyst Ratings Changes

Separately, Piper Sandler increased their target price on Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd.

Enterprise Financial Services Price Performance

The business’s 50 day simple moving average is $53.63 and its 200-day simple moving average is $47.81. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.87 and a beta of 0.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.91 and a current ratio of 0.91.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.15. The company had revenue of $164.89 million during the quarter, compared to analysts’ expectations of $157.56 million. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. Research analysts anticipate that Enterprise Financial Services Corp will post 4.77 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.79%. Enterprise Financial Services’s dividend payout ratio (DPR) is 22.88%.

Insider Activity

In related news, Director Richard Sanborn sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total value of $5,956,000.00. Following the sale, the director now directly owns 40,950 shares in the company, valued at $2,438,982. The trade was a 70.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of Enterprise Financial Services during the 2nd quarter worth $29,000. Innealta Capital LLC purchased a new stake in shares of Enterprise Financial Services during the second quarter valued at $31,000. Quarry LP boosted its position in shares of Enterprise Financial Services by 2,593.5% in the 3rd quarter. Quarry LP now owns 835 shares of the bank’s stock valued at $43,000 after purchasing an additional 804 shares during the period. Point72 DIFC Ltd purchased a new position in Enterprise Financial Services in the 3rd quarter worth about $102,000. Finally, FMR LLC increased its stake in Enterprise Financial Services by 34.2% in the 3rd quarter. FMR LLC now owns 2,560 shares of the bank’s stock worth $131,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds 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.