Enterprise Financial Services (NASDAQ:EFSC) Sets New 52-Week High – Here’s What Happened

Shares of Enterprise Financial Services Corp (NASDAQ:EFSC) reached a new 52-week high on Monday . The company 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.

Wall Street Analysts Forecast Growth

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

Enterprise Financial Services Price Performance

The firm’s fifty day simple moving average is $53.83 and its 200-day simple moving average is $47.96. 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 $2.27 billion, a PE ratio of 12.92 and a beta of 0.96.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.29 earnings per share 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 analyst estimates of $157.56 million. On average, research analysts forecast that Enterprise Financial Services Corp will post 4.77 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a dividend yield of 1.83%. Enterprise Financial Services’s dividend payout ratio (DPR) is 23.73%.

Insiders Place Their Bets

In other 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Enterprise Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in Enterprise Financial Services in the second quarter worth about $29,000. Innealta Capital LLC bought a new position in shares of Enterprise Financial Services in the 2nd quarter worth approximately $31,000. Quarry LP lifted its stake in shares of Enterprise Financial Services by 2,593.5% in the 3rd quarter. Quarry LP now owns 835 shares of the bank’s stock worth $43,000 after purchasing an additional 804 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Enterprise Financial Services in the third quarter worth approximately $102,000. Finally, FMR LLC grew its position in Enterprise Financial Services by 34.2% during the third quarter. FMR LLC now owns 2,560 shares of the bank’s stock valued at $131,000 after buying an additional 653 shares during the period. Hedge funds and other 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.