Enterprise Financial Services (NASDAQ:EFSC) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Enterprise Financial Services Corp (NASDAQ:EFSC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $51.75 and traded as high as $56.03. Enterprise Financial Services shares last traded at $55.89, with a volume of 165,063 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on EFSC. Keefe, Bruyette & Woods increased their target price on Enterprise Financial Services from $59.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler increased their price objective on Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd.

Enterprise Financial Services Price Performance

The firm’s 50 day moving average is $57.90 and its 200 day moving average is $51.85. The firm has a market cap of $2.08 billion, a P/E ratio of 11.84 and a beta of 1.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91.

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

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.27. Enterprise Financial Services’s payout ratio is currently 23.73%.

Insider Buying and Selling

In related news, Director Richard Sanborn sold 100,000 shares of the business’s 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Institutional Trading of Enterprise Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust boosted its position in Enterprise Financial Services by 2.8% in the second quarter. Parkside Financial Bank & Trust now owns 8,133 shares of the bank’s stock worth $333,000 after purchasing an additional 224 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Enterprise Financial Services by 2.2% in the second quarter. Arizona State Retirement System now owns 10,502 shares of the bank’s stock worth $430,000 after buying an additional 228 shares during the last quarter. Cornercap Investment Counsel Inc. increased its holdings in Enterprise Financial Services by 0.8% during the second quarter. Cornercap Investment Counsel Inc. now owns 29,469 shares of the bank’s stock valued at $1,206,000 after buying an additional 229 shares during the last quarter. Quest Partners LLC raised its position in Enterprise Financial Services by 4.8% in the second quarter. Quest Partners LLC now owns 10,851 shares of the bank’s stock worth $444,000 after acquiring an additional 500 shares during the period. Finally, Versant Capital Management Inc bought a new position in Enterprise Financial Services in the fourth quarter worth approximately $29,000. 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.