Enterprise Financial Services (NASDAQ:EFSC) Sets New 1-Year High – Time to Buy?

Enterprise Financial Services Corporation (NASDAQ:EFSC)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $64.56 and last traded at $64.54, with a volume of 123479 shares changing hands. The stock had previously closed at $63.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EFSC shares. Raymond James Financial started coverage on shares of Enterprise Financial Services in a research report on Tuesday, April 28th. They set an “outperform” rating and a $65.00 target price for the company. Wall Street Zen upgraded shares of Enterprise Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Piper Sandler upped their price objective on shares of Enterprise Financial Services from $64.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Enterprise Financial Services from $66.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.75.

Enterprise Financial Services Trading Up 0.4%

The company has a 50-day simple moving average of $60.31 and a 200-day simple moving average of $57.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $2.41 billion, a P/E ratio of 12.36 and a beta of 0.80.

Enterprise Financial Services (NASDAQ:EFSC) last announced its earnings results on Wednesday, April 22nd. The bank reported $1.31 EPS for the quarter, topping the consensus estimate of $1.30 by $0.01. Enterprise Financial Services had a return on equity of 10.35% and a net margin of 19.81%.The company had revenue of $188.85 million for the quarter, compared to analysts’ expectations of $174.02 million. On average, sell-side analysts forecast that Enterprise Financial Services Corporation will post 5.57 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.34 per share. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.33. The ex-dividend date is Monday, June 15th. This represents a $1.36 annualized dividend and a yield of 2.1%. Enterprise Financial Services’s dividend payout ratio is currently 25.66%.

Insider Buying and Selling

In other Enterprise Financial Services news, EVP Mark G. Ponder sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.55, for a total value of $75,687.50. Following the completion of the sale, the executive vice president owned 23,526 shares in the company, valued at approximately $1,424,499.30. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enterprise Financial Services

A number of large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Enterprise Financial Services by 929.0% in the second quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank’s stock valued at $35,000 after purchasing an additional 576 shares in the last quarter. First Horizon Corp lifted its holdings in Enterprise Financial Services by 55.6% during the 4th quarter. First Horizon Corp now owns 708 shares of the bank’s stock worth $38,000 after buying an additional 253 shares in the last quarter. Signaturefd LLC lifted its holdings in Enterprise Financial Services by 65.0% during the 4th quarter. Signaturefd LLC now owns 812 shares of the bank’s stock worth $44,000 after buying an additional 320 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Enterprise Financial Services in the 4th quarter valued at $99,000. Finally, Fifth Third Bancorp bought a new position in Enterprise Financial Services in the 1st quarter valued at $109,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. (NASDAQ: EFSC) is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.