Piper Sandler Increases Enterprise Financial Services (NASDAQ:EFSC) Price Target to $62.00

Enterprise Financial Services (NASDAQ:EFSC) had its price target raised by equities research analysts at Piper Sandler from $58.00 to $62.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective points to a potential upside of 14.88% from the stock’s previous close.

Enterprise Financial Services Stock Up 1.9 %

Shares of NASDAQ EFSC traded up $0.99 during trading on Wednesday, reaching $53.97. 9,396 shares of the stock were exchanged, compared to its average volume of 142,882. The business’s 50-day moving average price is $51.09 and its 200 day moving average price is $44.94. Enterprise Financial Services has a twelve month low of $32.97 and a twelve month high of $54.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.34 and a beta of 0.97.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.15. The business had revenue of $156.02 million during the quarter, compared to analyst estimates of $153.41 million. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%. As a group, equities analysts forecast that Enterprise Financial Services will post 4.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Sanborn sold 94,815 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.73, for a total value of $5,094,409.95. Following the completion of the sale, the director now owns 139,460 shares of the company’s stock, valued at $7,493,185.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Enterprise Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of EFSC. Vanguard Group Inc. lifted its holdings in Enterprise Financial Services by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 1,994,848 shares of the bank’s stock valued at $89,070,000 after acquiring an additional 48,583 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Enterprise Financial Services by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank’s stock valued at $178,000 after acquiring an additional 370 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Enterprise Financial Services by 14.6% in the 1st quarter. Principal Financial Group Inc. now owns 17,904 shares of the bank’s stock valued at $726,000 after acquiring an additional 2,276 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Enterprise Financial Services by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 26,890 shares of the bank’s stock valued at $1,091,000 after acquiring an additional 9,531 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in Enterprise Financial Services by 4.3% in the 1st quarter. Mutual of America Capital Management LLC now owns 158,025 shares of the bank’s stock valued at $6,409,000 after acquiring an additional 6,517 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.