Piper Sandler Increases Enterprise Financial Services (NASDAQ:EFSC) Price Target to $62.00

Enterprise Financial Services (NASDAQ:EFSC) had its price target boosted by stock analysts at Piper Sandler from $58.00 to $62.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective would indicate a potential upside of 14.88% from the stock’s previous close.

Enterprise Financial Services Stock Up 1.9 %

Shares of Enterprise Financial Services stock traded up $0.99 during trading on Wednesday, hitting $53.97. 9,396 shares of the stock were exchanged, compared to its average volume of 142,882. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 11.34 and a beta of 0.97. The firm’s 50-day moving average price is $51.09 and its 200 day moving average price is $44.94. Enterprise Financial Services has a 12-month low of $32.97 and a 12-month high of $54.88. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%. The firm had revenue of $156.02 million during the quarter, compared to analysts’ expectations of $153.41 million. As a group, analysts forecast that Enterprise Financial Services will post 4.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Sanborn sold 94,815 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.73, for a total value of $5,094,409.95. Following the completion of the transaction, the director now owns 139,460 shares in the company, valued at $7,493,185.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Enterprise Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Enterprise Financial Services by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 1,994,848 shares of the bank’s stock worth $89,070,000 after acquiring an additional 48,583 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Enterprise Financial Services by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank’s stock worth $178,000 after acquiring an additional 370 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Enterprise Financial Services by 14.6% in the first quarter. Principal Financial Group Inc. now owns 17,904 shares of the bank’s stock worth $726,000 after acquiring an additional 2,276 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Enterprise Financial Services by 54.9% in the first quarter. BNP Paribas Financial Markets now owns 26,890 shares of the bank’s stock worth $1,091,000 after acquiring an additional 9,531 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Enterprise Financial Services by 4.3% in the first quarter. Mutual of America Capital Management LLC now owns 158,025 shares of the bank’s stock worth $6,409,000 after acquiring an additional 6,517 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Financial Services Company Profile

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.