Enterprise Financial Services (NASDAQ:EFSC) PT Lowered to $45.00

Enterprise Financial Services (NASDAQ:EFSC) had its target price reduced by DA Davidson from $47.00 to $45.00 in a research note published on Wednesday morning, Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock. DA Davidson also issued estimates for Enterprise Financial Services’ Q2 2024 earnings at $1.11 EPS, FY2024 earnings at $4.55 EPS and FY2025 earnings at $4.60 EPS.

EFSC has been the subject of several other reports. Keefe, Bruyette & Woods decreased their target price on Enterprise Financial Services from $51.00 to $49.00 and set an outperform rating for the company in a research report on Wednesday. Piper Sandler decreased their target price on Enterprise Financial Services from $48.00 to $47.00 and set an overweight rating for the company in a research report on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $47.00.

Enterprise Financial Services Price Performance

Enterprise Financial Services stock opened at $38.80 on Wednesday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 8.31 and a beta of 0.99. Enterprise Financial Services has a 1 year low of $32.97 and a 1 year high of $46.17. The business has a 50-day moving average of $39.30 and a 200-day moving average of $40.06. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.28.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.68%. Enterprise Financial Services’s payout ratio is currently 21.41%.

Hedge Funds Weigh In On Enterprise Financial Services

Several institutional investors and hedge funds have recently modified their holdings of EFSC. Wellington Management Group LLP grew its position in shares of Enterprise Financial Services by 11.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,144,988 shares of the bank’s stock valued at $80,437,000 after purchasing an additional 220,690 shares during the period. Jennison Associates LLC grew its position in shares of Enterprise Financial Services by 34.3% in the 4th quarter. Jennison Associates LLC now owns 411,256 shares of the bank’s stock valued at $18,363,000 after purchasing an additional 105,004 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Enterprise Financial Services by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,912,329 shares of the bank’s stock valued at $85,387,000 after purchasing an additional 99,703 shares during the period. Envestnet Asset Management Inc. lifted its stake in Enterprise Financial Services by 247.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 114,782 shares of the bank’s stock valued at $4,304,000 after acquiring an additional 81,730 shares in the last quarter. Finally, Enterprise Financial Services Corp lifted its stake in Enterprise Financial Services by 16.8% in the 4th quarter. Enterprise Financial Services Corp now owns 404,058 shares of the bank’s stock valued at $18,041,000 after acquiring an additional 58,027 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.