Enterprise Financial Services (NASDAQ:EFSC) Hits New 1-Year High – Here’s What Happened

Enterprise Financial Services Corporation (NASDAQ:EFSC)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $63.08 and last traded at $63.0160, with a volume of 14394 shares trading hands. The stock had previously closed at $61.82.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EFSC. Weiss Ratings raised shares of Enterprise Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Enterprise Financial Services from $66.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Raymond James Financial began coverage on shares of Enterprise Financial Services in a report on Tuesday, April 28th. They issued an “outperform” rating and a $65.00 target price on the stock. Finally, Wall Street Zen raised shares of Enterprise Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.00.

Enterprise Financial Services Trading Up 0.9%

The firm has a market cap of $2.28 billion, a PE ratio of 11.77 and a beta of 0.80. The company’s fifty day moving average price is $58.56 and its two-hundred day moving average price is $56.98. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.21.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The firm had revenue of $188.85 million for the quarter, compared to the consensus estimate of $174.02 million. Enterprise Financial Services had a net margin of 19.81% and a return on equity of 10.35%. As a group, sell-side analysts forecast that Enterprise Financial Services Corporation will post 5.55 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.34 per share. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, June 15th. Enterprise Financial Services’s payout ratio is presently 24.91%.

Insider Buying and Selling

In related news, EVP Mark G. Ponder sold 1,250 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.55, for a total transaction of $75,687.50. Following the sale, the executive vice president owned 23,526 shares of the company’s stock, valued at approximately $1,424,499.30. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Enterprise Financial Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA purchased a new stake in Enterprise Financial Services during the first quarter worth about $10,093,000. Bank of America Corp DE lifted its holdings in shares of Enterprise Financial Services by 5.7% in the first quarter. Bank of America Corp DE now owns 397,357 shares of the bank’s stock valued at $21,501,000 after purchasing an additional 21,269 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Enterprise Financial Services by 311.2% in the first quarter. Royal Bank of Canada now owns 8,591 shares of the bank’s stock valued at $464,000 after purchasing an additional 6,502 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Enterprise Financial Services by 2.9% in the first quarter. Empowered Funds LLC now owns 157,012 shares of the bank’s stock valued at $8,496,000 after purchasing an additional 4,402 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Enterprise Financial Services by 371.9% in the first quarter. Quantinno Capital Management LP now owns 41,295 shares of the bank’s stock valued at $2,235,000 after purchasing an additional 32,545 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. (NASDAQ: EFSC) is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.