Enterprise Financial Services (NASDAQ:EFSC) Price Target Raised to $58.00

Enterprise Financial Services (NASDAQ:EFSC) had its price target upped by Piper Sandler from $45.00 to $58.00 in a research note issued to investors on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the bank’s stock.

EFSC has been the subject of several other reports. Keefe, Bruyette & Woods decreased their price target on shares of Enterprise Financial Services from $51.00 to $49.00 and set an outperform rating for the company in a research note on Wednesday, April 24th. DA Davidson lowered their target price on shares of Enterprise Financial Services from $47.00 to $45.00 and set a buy rating for the company in a report on Wednesday, April 24th.

Enterprise Financial Services Price Performance

Shares of EFSC stock opened at $54.00 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 11.56 and a beta of 0.99. The business’s fifty day moving average is $41.08 and its 200 day moving average is $40.45. Enterprise Financial Services has a twelve month low of $32.97 and a twelve month high of $54.88.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.00%. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, September 16th. Enterprise Financial Services’s dividend payout ratio is 22.27%.

Insiders Place Their Bets

In other news, Director Richard Sanborn sold 94,815 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.73, for a total transaction of $5,094,409.95. Following the sale, the director now owns 139,460 shares in the company, valued at $7,493,185.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its position in Enterprise Financial Services by 8.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,010 shares of the bank’s stock worth $179,000 after buying an additional 324 shares during the last quarter. Strs Ohio raised its holdings in shares of Enterprise Financial Services by 9.5% during the fourth quarter. Strs Ohio now owns 4,600 shares of the bank’s stock valued at $205,000 after purchasing an additional 400 shares during the last quarter. ProShare Advisors LLC lifted its position in Enterprise Financial Services by 8.6% during the first quarter. ProShare Advisors LLC now owns 6,525 shares of the bank’s stock valued at $265,000 after purchasing an additional 515 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Enterprise Financial Services by 5.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,338 shares of the bank’s stock worth $729,000 after purchasing an additional 853 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Enterprise Financial Services by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,824 shares of the bank’s stock worth $1,007,000 after purchasing an additional 1,269 shares during the period. 72.21% of the stock is 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.