Enterprise Financial Services (NASDAQ:EFSC) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued on Wednesday, Zacks.com reports. The brokerage presently has a $56.00 target price on the bank's stock. Zacks Investment Research's target price would suggest a potential upside of 14.36% from the company's current price.
According to Zacks, "Enterprise Financial operates commercial banking and wealth management businesses in metropolitan St. Louis and Kansas City, with a primary focus on serving the needs of privately held businesses, their owners and other success-minded individuals. "
Shares of NASDAQ EFSC traded down $0.84 during mid-day trading on Wednesday, reaching $48.97. The company's stock had a trading volume of 101,095 shares, compared to its average volume of 146,756. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 15.30 and a beta of 1.40. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.42. The firm's fifty day simple moving average is $49.45. Enterprise Financial Services has a 52 week low of $25.21 and a 52 week high of $52.00.
Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings data on Sunday, April 25th. The bank reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.08. The firm had revenue of $90.41 million during the quarter, compared to analyst estimates of $95.14 million. Enterprise Financial Services had a return on equity of 9.33% and a net margin of 25.02%. As a group, equities research analysts anticipate that Enterprise Financial Services will post 3.89 EPS for the current fiscal year.
In related news, Director Richard Sanborn sold 1,000 shares of the business's stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $48.06, for a total value of $48,060.00. Following the sale, the director now directly owns 103,214 shares in the company, valued at $4,960,464.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John S. Eulich acquired 7,500 shares of the firm's stock in a transaction on Tuesday, May 4th. The shares were bought at an average price of $49.79 per share, for a total transaction of $373,425.00. Following the completion of the transaction, the director now owns 9,043 shares of the company's stock, valued at $450,250.97. The disclosure for this purchase can be found here. 8.40% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of EFSC. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Enterprise Financial Services by 165.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,693 shares of the bank's stock valued at $129,000 after purchasing an additional 2,302 shares during the period. Victory Capital Management Inc. purchased a new stake in Enterprise Financial Services during the fourth quarter valued at approximately $356,000. Matarin Capital Management LLC raised its position in Enterprise Financial Services by 23.1% during the fourth quarter. Matarin Capital Management LLC now owns 51,174 shares of the bank's stock valued at $1,789,000 after purchasing an additional 9,605 shares during the period. US Bancorp DE raised its position in Enterprise Financial Services by 13.4% during the fourth quarter. US Bancorp DE now owns 4,517 shares of the bank's stock valued at $158,000 after purchasing an additional 534 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Enterprise Financial Services by 45.8% during the fourth quarter. SG Americas Securities LLC now owns 5,558 shares of the bank's stock valued at $194,000 after buying an additional 1,747 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.
About Enterprise Financial Services
Enterprise Financial Services Corp operates as the financial holding company for Enterprise Bank & Trust that offers banking and wealth management services to individuals and corporate customers. The company offers checking, savings, and money market accounts, and certificates of deposit. It also provides commercial and industrial, commercial real estate, construction and land development, residential real estate, agricultural, and consumer loans.
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