Enterprise Financial Services (NASDAQ:EFSC) Stock Bumped Up to Strong-Buy by Benchmark

Benchmark upgraded shares of Enterprise Financial Services (NASDAQ:EFSC) to a strong-buy rating in a research note published on Wednesday morning,Zacks reports.

EFSC has been the subject of several other reports. Piper Sandler increased their price target on Enterprise Financial Services from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Raymond James Financial upped their price target on shares of Enterprise Financial Services from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded shares of Enterprise Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Financial Services in a research report on Friday, July 10th. Finally, Stephens started coverage on Enterprise Financial Services in a research report on Friday, September 18th. They set an “equal weight” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Enterprise Financial Services Stock Performance

Shares of Enterprise Financial Services stock opened at $60.69 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. Enterprise Financial Services has a 52 week low of $51.18 and a 52 week high of $68.73. The firm’s 50 day moving average is $64.54 and its two-hundred day moving average is $61.40. The firm has a market capitalization of $2.20 billion, a P/E ratio of 12.07 and a beta of 0.78.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.13 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.20). The company had revenue of $187.37 million for the quarter, compared to analyst estimates of $189.15 million. Enterprise Financial Services had a return on equity of 9.70% and a net margin of 18.72%. Research analysts forecast that Enterprise Financial Services will post 5.31 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.35 per share. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Enterprise Financial Services’s payout ratio is 27.83%.

Institutional Investors Weigh In On Enterprise Financial Services

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Enterprise Financial Services in the second quarter valued at about $235,007,000. Bank of America Corp DE bought a new position in Enterprise Financial Services in the 2nd quarter worth $22,714,000. Glenmede Trust Co. NA acquired a new position in shares of Enterprise Financial Services during the 1st quarter worth about $10,093,000. Bank of New York Mellon Corp bought a new stake in shares of Enterprise Financial Services in the second quarter valued at approximately $11,415,000. Finally, Empowered Funds LLC bought a new stake in Enterprise Financial Services in the 2nd quarter valued at $10,776,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. is a financial holding company headquartered in Clayton, Missouri. Through its principal subsidiary, Enterprise Bank & Trust, the company provides banking and wealth management services to businesses, professionals, individuals and families.

Enterprise Bank & Trust offers commercial and personal deposit accounts, loans, lines of credit, treasury management, cash management, online banking and other financial services. Its commercial banking activities include lending to operating companies, commercial real estate borrowers and small businesses, while its wealth management business provides investment management, trust, financial planning and related services.

Founded in 1990, the company serves clients through banking and wealth management operations in Missouri, Kansas, Arizona and New Mexico.