Enterprise Financial Services (NASDAQ:EFSC) Reaches New 52-Week High – Here’s Why

Enterprise Financial Services Corp (NASDAQ:EFSC)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $62.26 and last traded at $62.26, with a volume of 258 shares trading hands. The stock had previously closed at $60.74.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price objective on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd.

Enterprise Financial Services Stock Up 2.9 %

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.32 billion, a PE ratio of 12.87 and a beta of 0.96. The business’s 50-day moving average price is $53.63 and its 200-day moving average price is $47.81.

Enterprise Financial Services (NASDAQ:EFSC) last released its earnings results on Monday, October 21st. The bank reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.15. Enterprise Financial Services had a net margin of 19.73% and a return on equity of 10.81%. The company had revenue of $164.89 million during the quarter, compared to the consensus estimate of $157.56 million. As a group, equities research analysts predict that Enterprise Financial Services Corp will post 4.77 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.28 per share. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.12 dividend on an annualized basis and a yield of 1.79%. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 22.88%.

Insider Buying and Selling at Enterprise Financial Services

In other Enterprise Financial Services news, Director Richard Sanborn sold 100,000 shares of Enterprise Financial Services stock in a transaction that occurred on 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 sale, the director now directly owns 40,950 shares in the company, valued at $2,438,982. The trade was a 70.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EFSC. ProShare Advisors LLC increased its position in Enterprise Financial Services by 8.6% during the first quarter. ProShare Advisors LLC now owns 6,525 shares of the bank’s stock worth $265,000 after buying an additional 515 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Enterprise Financial Services by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,020,424 shares of the bank’s stock valued at $81,948,000 after acquiring an additional 25,576 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Enterprise Financial Services by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,824 shares of the bank’s stock valued at $1,007,000 after acquiring an additional 1,269 shares in the last quarter. Boston Partners acquired a new stake in Enterprise Financial Services in the 1st quarter worth approximately $873,000. Finally, Assenagon Asset Management S.A. bought a new stake in Enterprise Financial Services during the second quarter worth approximately $1,394,000. Institutional investors 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.