Piper Sandler Boosts Enterprise Financial Services (NASDAQ:EFSC) Price Target to $58.00

Enterprise Financial Services (NASDAQ:EFSC) had its price target boosted by Piper Sandler from $45.00 to $58.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Several other brokerages have also recently commented on EFSC. Keefe, Bruyette & Woods reduced their price target on Enterprise Financial Services from $51.00 to $49.00 and set an outperform rating for the company in a research report on Wednesday, April 24th. DA Davidson reduced their price target on Enterprise Financial Services from $47.00 to $45.00 and set a buy rating for the company in a research report on Wednesday, April 24th.

Enterprise Financial Services Stock Up 1.7 %

EFSC stock opened at $54.00 on Wednesday. The business has a 50-day moving average of $41.08 and a 200-day moving average of $40.42. Enterprise Financial Services has a fifty-two week low of $32.97 and a fifty-two week high of $54.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $2.02 billion, a P/E ratio of 11.56 and a beta of 0.99.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, September 16th. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 23.13%.

Insider Activity

In other news, Director Richard Sanborn sold 94,815 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.73, for a total value of $5,094,409.95. Following the completion of the sale, the director now directly owns 139,460 shares of the company’s stock, valued at $7,493,185.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Institutional Trading of Enterprise Financial Services

A number of hedge funds have recently made changes to their positions in EFSC. EntryPoint Capital LLC lifted its position in shares of Enterprise Financial Services by 87.4% in the first quarter. EntryPoint Capital LLC now owns 3,927 shares of the bank’s stock valued at $159,000 after buying an additional 1,831 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Enterprise Financial Services by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank’s stock worth $178,000 after purchasing an additional 370 shares during the period. SG Americas Securities LLC bought a new position in shares of Enterprise Financial Services during the first quarter worth approximately $178,000. Entropy Technologies LP bought a new position in shares of Enterprise Financial Services during the first quarter worth approximately $202,000. Finally, Strs Ohio increased its stake in shares of Enterprise Financial Services by 9.5% during the fourth quarter. Strs Ohio now owns 4,600 shares of the bank’s stock worth $205,000 after purchasing an additional 400 shares during the period. 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.