DA Davidson Forecasts Strong Price Appreciation for Enterprise Financial Services (NASDAQ:EFSC) Stock

Enterprise Financial Services (NASDAQ:EFSC) had its price target boosted by DA Davidson from $67.00 to $70.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. DA Davidson’s target price would indicate a potential upside of 16.78% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $70.00 price target (up previously from $68.00) on shares of Enterprise Financial Services in a research report on Wednesday.

Enterprise Financial Services Stock Performance

Shares of NASDAQ:EFSC traded down $0.10 on Wednesday, hitting $59.94. 176,716 shares of the company were exchanged, compared to its average volume of 150,622. The firm has a market capitalization of $2.23 billion, a P/E ratio of 12.70 and a beta of 1.00. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $57.87 and its 200 day moving average price is $53.96. Enterprise Financial Services has a 1-year low of $37.28 and a 1-year high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings data on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.14. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. Sell-side analysts predict that Enterprise Financial Services will post 4.77 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard Sanborn sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.56, for a total value of $5,956,000.00. Following the sale, the director now owns 40,950 shares in the company, valued at approximately $2,438,982. The trade was a 70.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Enterprise Financial Services

Several institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in shares of Enterprise Financial Services by 164.6% in the 2nd quarter. Renaissance Technologies LLC now owns 49,489 shares of the bank’s stock valued at $2,025,000 after buying an additional 30,785 shares during the period. AQR Capital Management LLC boosted its holdings in Enterprise Financial Services by 35.6% in the second quarter. AQR Capital Management LLC now owns 90,331 shares of the bank’s stock valued at $3,695,000 after purchasing an additional 23,697 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Enterprise Financial Services by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 19,177 shares of the bank’s stock worth $785,000 after purchasing an additional 819 shares in the last quarter. Creative Planning boosted its stake in Enterprise Financial Services by 10.4% in the second quarter. Creative Planning now owns 37,030 shares of the bank’s stock valued at $1,515,000 after acquiring an additional 3,474 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Enterprise Financial Services by 61.9% during the second quarter. Point72 Asset Management L.P. now owns 9,391 shares of the bank’s stock worth $384,000 after purchasing an additional 3,591 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.