Zacks Investment Research Upgrades Enterprise Financial Services Corp. (EFSC) to “Buy”
Enterprise Financial Services Corp. (NASDAQ:EFSC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $37.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 13.85% from the stock’s current price.
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. “
A number of other equities research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Enterprise Financial Services Corp. from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, July 29th. DA Davidson increased their price objective on shares of Enterprise Financial Services Corp. from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 12th. Finally, Piper Jaffray Cos. initiated coverage on shares of Enterprise Financial Services Corp. in a research note on Monday, July 11th. They set an “overweight” rating and a $31.25 price objective on the stock. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Enterprise Financial Services Corp. currently has an average rating of “Buy” and an average target price of $33.31.
Shares of Enterprise Financial Services Corp. (NASDAQ:EFSC) opened at 32.50 on Friday. Enterprise Financial Services Corp. has a 1-year low of $25.01 and a 1-year high of $33.37. The company’s 50 day moving average is $31.43 and its 200-day moving average is $28.72. The company has a market capitalization of $650.59 million, a P/E ratio of 15.13 and a beta of 0.78.
Enterprise Financial Services Corp. (NASDAQ:EFSC) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.04. Enterprise Financial Services Corp. had a return on equity of 12.11% and a net margin of 26.51%. On average, equities research analysts forecast that Enterprise Financial Services Corp. will post $2.29 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.11 dividend. This is an increase from Enterprise Financial Services Corp.’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, September 13th. Enterprise Financial Services Corp.’s dividend payout ratio (DPR) is presently 20.47%.
Several large investors have recently bought and sold shares of EFSC. Vanguard Group Inc. increased its stake in Enterprise Financial Services Corp. by 8.5% in the second quarter. Vanguard Group Inc. now owns 727,524 shares of the company’s stock worth $20,291,000 after buying an additional 56,951 shares during the last quarter. Martingale Asset Management L P bought a new stake in Enterprise Financial Services Corp. during the second quarter worth $1,098,000. Dimensional Fund Advisors LP increased its stake in Enterprise Financial Services Corp. by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 789,938 shares of the company’s stock worth $22,031,000 after buying an additional 32,211 shares during the last quarter. Virginia Retirement System bought a new stake in Enterprise Financial Services Corp. during the first quarter worth $514,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Enterprise Financial Services Corp. during the second quarter worth $530,000. Institutional investors own 68.30% of the company’s stock.
About Enterprise Financial Services Corp.
Enterprise Financial Services Corp is a financial holding company. The Company is the holding company for a full service banking subsidiary, Enterprise Bank & Trust (the Bank). The Bank offers banking and wealth management services to individuals and business customers primarily located in the St. Louis, Kansas City and Phoenix metropolitan markets.
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