Enterprise Financial Services (NASDAQ:EFSC) Upgraded to Hold at Wall Street Zen

Key Points

• Enterprise Financial Services (NASDAQ: EFSC) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more positive outlook on the stock.
• Recent target price adjustments by other firms include Keefe, Bruyette & Woods lowering it to $66.00 and DA Davidson to $65.00, both maintaining their ratings at "outperform" and "buy" respectively.
• The company reported $1.31 earnings per share for the last quarter, surpassing analysts' expectations by $0.14, with expectations of 4.97 earnings per share for the current fiscal year.

Wall Street Zen upgraded shares of Enterprise Financial Services (NASDAQ:EFSC - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other analysts have also recently issued reports on EFSC. Keefe, Bruyette & Woods reduced their price objective on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. DA Davidson reduced their price target on Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th.

Enterprise Financial Services Stock Up 0.4%

Shares of Enterprise Financial Services stock traded up $0.24 during midday trading on Friday, hitting $56.62. The company's stock had a trading volume of 315,723 shares, compared to its average volume of 163,429. The firm has a market capitalization of $2.09 billion, a P/E ratio of 10.74 and a beta of 0.86. The stock has a 50-day simple moving average of $54.95 and a 200-day simple moving average of $55.07. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. Enterprise Financial Services has a 1-year low of $45.22 and a 1-year high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.17. The firm had revenue of $176.05 million during the quarter, compared to analysts' expectations of $166.82 million. Enterprise Financial Services had a return on equity of 11.31% and a net margin of 21.28%. As a group, sell-side analysts expect that Enterprise Financial Services will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, September 15th. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.19%. Enterprise Financial Services's payout ratio is presently 23.53%.

Insider Activity

In other news, Director Michael E. Finn purchased 1,500 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average cost of $52.50 per share, for a total transaction of $78,750.00. Following the completion of the purchase, the director directly owned 1,500 shares of the company's stock, valued at approximately $78,750. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Brian Lally sold 4,689 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $55.18, for a total value of $258,739.02. Following the transaction, the chief executive officer owned 106,974 shares in the company, valued at $5,902,825.32. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,572 shares of company stock worth $472,667 over the last 90 days. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Enterprise Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in Enterprise Financial Services during the 1st quarter worth $28,000. Summit Securities Group LLC acquired a new stake in Enterprise Financial Services during the first quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in Enterprise Financial Services by 51.7% in the first quarter. Versant Capital Management Inc now owns 775 shares of the bank's stock valued at $42,000 after acquiring an additional 264 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Enterprise Financial Services by 302.5% during the first quarter. PNC Financial Services Group Inc. now owns 793 shares of the bank's stock worth $43,000 after buying an additional 596 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in shares of Enterprise Financial Services during the first quarter worth $50,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.