Enterprise Financial Services (NASDAQ:EFSC) Price Target Lowered to $65.00 at DA Davidson

Enterprise Financial Services (NASDAQ:EFSC) had its price objective lowered by DA Davidson from $70.00 to $65.00 in a report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods cut their target price on Enterprise Financial Services from $69.00 to $66.00 and set an “outperform” rating on the stock in a research note on Wednesday.

Enterprise Financial Services Price Performance

EFSC opened at $52.02 on Wednesday. Enterprise Financial Services has a 12-month low of $37.28 and a 12-month high of $63.13. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 10.75 and a beta of 0.84. The stock has a fifty day simple moving average of $53.04 and a two-hundred day simple moving average of $56.04. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27.

Enterprise Financial Services (NASDAQ:EFSC) last released its earnings results on Monday, April 28th. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.14. Enterprise Financial Services had a return on equity of 10.94% and a net margin of 20.12%. The firm had revenue of $18.48 million for the quarter, compared to analysts’ expectations of $162.83 million. Research analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.31%. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, June 16th. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 23.97%.

Insider Buying and Selling

In related news, Director James M. Havel sold 5,525 shares of Enterprise Financial Services stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $58.47, for a total value of $323,046.75. Following the completion of the sale, the director now directly owns 15,447 shares in the company, valued at approximately $903,186.09. This trade represents a 26.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enterprise Financial Services

Large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enterprise Financial Services by 437.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,223 shares of the bank’s stock worth $1,310,000 after buying an additional 18,902 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Enterprise Financial Services by 94.8% during the 3rd quarter. Franklin Resources Inc. now owns 46,727 shares of the bank’s stock valued at $2,391,000 after purchasing an additional 22,739 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Enterprise Financial Services by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 557,875 shares of the bank’s stock valued at $28,597,000 after purchasing an additional 29,747 shares during the period. Vanguard Group Inc. grew its stake in shares of Enterprise Financial Services by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 2,089,008 shares of the bank’s stock valued at $117,820,000 after purchasing an additional 13,724 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Enterprise Financial Services by 37.0% during the 4th quarter. Fisher Asset Management LLC now owns 74,195 shares of the bank’s stock valued at $4,185,000 after purchasing an additional 20,033 shares during the period. 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.