DA Davidson Increases Enterprise Financial Services (NASDAQ:EFSC) Price Target to $70.00

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

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

Enterprise Financial Services Stock Performance

Shares of Enterprise Financial Services stock traded down $0.10 during trading hours on Wednesday, hitting $59.94. 176,716 shares of the company were exchanged, compared to its average volume of 150,622. The business has a 50-day moving average of $57.87 and a 200-day moving average of $53.96. Enterprise Financial Services has a 1 year low of $37.28 and a 1 year high of $63.13. 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 has a market capitalization of $2.23 billion, a price-to-earnings ratio of 12.70 and a beta of 1.00.

Enterprise Financial Services (NASDAQ:EFSC) last released its earnings results on Monday, January 27th. The bank reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.14. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. As a group, analysts expect that Enterprise Financial Services will post 4.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Enterprise Financial Services news, Director Richard Sanborn sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total value of $5,956,000.00. Following the completion of the transaction, the director now directly owns 40,950 shares of the company’s stock, valued at $2,438,982. This represents a 70.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enterprise Financial Services

A number of hedge funds have recently added to or reduced their stakes in EFSC. Versant Capital Management Inc acquired a new position in shares of Enterprise Financial Services in the 4th quarter valued at about $29,000. Quarry LP raised its stake in shares of Enterprise Financial Services by 2,593.5% during the third quarter. Quarry LP now owns 835 shares of the bank’s stock valued at $43,000 after purchasing an additional 804 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Enterprise Financial Services in the third quarter worth about $102,000. FMR LLC grew its position in Enterprise Financial Services by 34.2% in the 3rd quarter. FMR LLC now owns 2,560 shares of the bank’s stock valued at $131,000 after buying an additional 653 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Enterprise Financial Services by 169.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,452 shares of the bank’s stock worth $177,000 after buying an additional 2,172 shares in 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.