DA Davidson Issues Positive Forecast for Enterprise Financial Services (NASDAQ:EFSC) Stock Price

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

EFSC has been the subject of a number of other reports. Keefe, Bruyette & Woods restated 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 increased their price objective on shares of 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 Stock Down 0.2 %

Shares of NASDAQ:EFSC opened at $59.94 on Wednesday. The company’s fifty day moving average is $57.89 and its two-hundred day moving average is $54.00. 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 has a 1-year low of $37.28 and a 1-year high of $63.13. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 12.70 and a beta of 1.00.

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

Enterprise Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.29 dividend. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, March 14th. Enterprise Financial Services’s dividend payout ratio (DPR) is currently 23.73%.

Insiders Place Their Bets

In related news, Director Richard Sanborn sold 100,000 shares of Enterprise Financial Services stock in a transaction dated 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 directly owns 40,950 shares in the company, valued at $2,438,982. The trade was a 70.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Enterprise Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in EFSC. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Enterprise Financial Services by 7.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,141 shares of the bank’s stock valued at $403,000 after acquiring an additional 502 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Enterprise Financial Services in the fourth quarter worth approximately $29,000. Harbor Capital Advisors Inc. boosted its stake in Enterprise Financial Services by 6.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,339 shares of the bank’s stock valued at $581,000 after purchasing an additional 645 shares in the last quarter. FMR LLC increased its position in shares of 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 purchasing an additional 653 shares during the period. Finally, Quarry LP raised its stake 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 worth $43,000 after buying an additional 804 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

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.