Enterprise Financial Services Corp. (EFSC) Sees Unusually-High Trading Volume Following Analyst Upgrade
Enterprise Financial Services Corp. (NASDAQ:EFSC) saw strong trading volume on Wednesday after DA Davidson raised their price target on the stock from $33.00 to $34.00. DA Davidson currently has a neutral rating on the stock. 66,906 shares traded hands during trading, a decline of 14% from the previous session’s volume of 78,188 shares.The stock last traded at $32.90 and had previously closed at $32.33.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Enterprise Financial Services Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Keefe, Bruyette & Woods upped their price target on Enterprise Financial Services Corp. from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Finally, Piper Jaffray Cos. assumed coverage on Enterprise Financial Services Corp. in a report on Monday, July 11th. They set an “overweight” rating and a $31.25 price target on the stock. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Enterprise Financial Services Corp. presently has a consensus rating of “Hold” and a consensus target price of $32.06.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Enterprise Financial Services Corp. by 8.5% in the second quarter. Vanguard Group Inc. now owns 727,524 shares of the company’s stock worth $20,291,000 after buying an additional 56,951 shares during the last quarter. Martingale Asset Management L P purchased a new position in Enterprise Financial Services Corp. during the second quarter worth about $1,098,000. Dimensional Fund Advisors LP increased its position in Enterprise Financial Services Corp. by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 789,938 shares of the company’s stock worth $22,031,000 after buying an additional 32,211 shares in the last quarter. Virginia Retirement System purchased a new position in Enterprise Financial Services Corp. during the first quarter worth about $514,000. Finally, Virginia Retirement Systems ET AL purchased a new position in Enterprise Financial Services Corp. during the second quarter worth about $530,000. Institutional investors and hedge funds own 68.30% of the company’s stock.
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The stock has a market cap of $660.79 million, a PE ratio of 15.37 and a beta of 0.78. The stock has a 50-day moving average price of $31.16 and a 200-day moving average price of $28.56.
Enterprise Financial Services Corp. (NASDAQ:EFSC) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.04. Enterprise Financial Services Corp. had a return on equity of 12.11% and a net margin of 26.51%. Analysts expect that Enterprise Financial Services Corp. will post $2.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Tuesday, September 13th. This is a boost from Enterprise Financial Services Corp.’s previous quarterly dividend of $0.10. Enterprise Financial Services Corp.’s payout ratio is currently 20.47%.
About Enterprise Financial Services Corp.
Enterprise Financial Services Corp is a financial holding company. The Company is the holding company for a full service banking subsidiary, Enterprise Bank & Trust (the Bank). The Bank offers banking and wealth management services to individuals and business customers primarily located in the St. Louis, Kansas City and Phoenix metropolitan markets.
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