Enterprise Financial Services (NASDAQ:EFSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, Zacks.com reports. The brokerage presently has a $53.00 target price on the bank’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 8.65% from the company’s previous close.
According to Zacks, “Enterprise Financial operates commercial banking and wealth management businesses in metropolitan St. Louis and Kansas City, with a primary focus on serving the needs of privately held businesses, their owners and other success-minded individuals. “
Separately, Raymond James upped their target price on shares of Enterprise Financial Services from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, October 27th.
NASDAQ EFSC traded up $1.58 on Monday, hitting $48.78. 286,855 shares of the company were exchanged, compared to its average volume of 144,632. The firm has a 50 day moving average of $47.57 and a two-hundred day moving average of $46.56. The company has a market cap of $1.87 billion, a P/E ratio of 13.66 and a beta of 1.33. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. Enterprise Financial Services has a 1-year low of $33.28 and a 1-year high of $52.00.
Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Sunday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.41). Enterprise Financial Services had a return on equity of 12.15% and a net margin of 26.26%. The company had revenue of $114.89 million for the quarter, compared to analyst estimates of $112.79 million. During the same quarter last year, the company earned $0.68 EPS. Research analysts anticipate that Enterprise Financial Services will post 4.49 EPS for the current fiscal year.
In related news, CFO S Turner Keene acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, November 9th. The stock was bought at an average price of $25.00 per share, with a total value of $50,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tony Scavuzzo sold 140,000 shares of the stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $48.32, for a total value of $6,764,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 9,900 shares of company stock valued at $424,425. 8.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EFSC. Legal & General Group Plc lifted its holdings in Enterprise Financial Services by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 5,960 shares of the bank’s stock valued at $277,000 after purchasing an additional 246 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Enterprise Financial Services by 15.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,267 shares of the bank’s stock valued at $105,000 after purchasing an additional 311 shares during the last quarter. Rhumbline Advisers lifted its holdings in Enterprise Financial Services by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 38,138 shares of the bank’s stock valued at $1,769,000 after purchasing an additional 311 shares during the last quarter. HGK Asset Management Inc. lifted its holdings in Enterprise Financial Services by 2.0% during the 2nd quarter. HGK Asset Management Inc. now owns 17,318 shares of the bank’s stock valued at $803,000 after purchasing an additional 338 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in Enterprise Financial Services by 130.5% during the 2nd quarter. Harbor Investment Advisory LLC now owns 613 shares of the bank’s stock valued at $28,000 after purchasing an additional 347 shares during the last quarter. 60.38% of the stock is owned by institutional investors.
About Enterprise Financial Services
Enterprise Financial Services Corp. operates as a financial holding company. The firm engages in the provision of business and personal banking services and wealth management services. It also offers lending services which include commercial and industrial commercial real estate, real estate construction and development, residential real estate and consumer loans.
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