Zacks Investment Research Downgrades Enterprise Financial Services (NASDAQ:EFSC) to Sell

Zacks Investment Research cut shares of Enterprise Financial Services (NASDAQ:EFSC) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Enterprise Financial operates commercial banking and wealth management businesses in metropolitan St. Louis and Kansas City, with a primary focus on serving the needs of privately held businesses, their owners and other success-minded individuals. “

Separately, Raymond James increased their target price on shares of Enterprise Financial Services from $52.00 to $54.00 and gave the company an outperform rating in a research report on Wednesday, October 27th.

Shares of EFSC stock opened at $49.97 on Tuesday. Enterprise Financial Services has a 52-week low of $34.71 and a 52-week high of $52.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 0.96. The company has a 50-day simple moving average of $47.97 and a two-hundred day simple moving average of $46.44. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 14.00 and a beta of 1.32.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings data on Sunday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.41). Enterprise Financial Services had a return on equity of 12.15% and a net margin of 26.26%. The firm had revenue of $114.89 million during the quarter, compared to the consensus estimate of $112.79 million. During the same period in the previous year, the company posted $0.68 earnings per share. On average, sell-side analysts forecast that Enterprise Financial Services will post 4.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th were given a dividend of $0.20 per share. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Tuesday, December 14th. Enterprise Financial Services’s dividend payout ratio is currently 22.41%.

In related news, Director Tony Scavuzzo sold 140,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $48.32, for a total value of $6,764,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John S. Eulich acquired 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was acquired at an average cost of $48.59 per share, with a total value of $364,425.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 9,900 shares of company stock valued at $424,425 and have sold 171,000 shares valued at $8,253,160. 8.40% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EFSC. Thrivent Financial for Lutherans boosted its holdings in Enterprise Financial Services by 2,653.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 907,910 shares of the bank’s stock worth $42,118,000 after buying an additional 874,941 shares during the period. William Blair Investment Management LLC boosted its holdings in Enterprise Financial Services by 48,273.2% in the 3rd quarter. William Blair Investment Management LLC now owns 735,272 shares of the bank’s stock worth $33,293,000 after buying an additional 733,752 shares during the period. BlackRock Inc. boosted its holdings in Enterprise Financial Services by 15.1% in the 3rd quarter. BlackRock Inc. now owns 2,478,941 shares of the bank’s stock worth $112,248,000 after buying an additional 325,792 shares during the period. Alliancebernstein L.P. boosted its holdings in Enterprise Financial Services by 876.6% in the 3rd quarter. Alliancebernstein L.P. now owns 312,870 shares of the bank’s stock worth $14,167,000 after buying an additional 280,834 shares during the period. Finally, State Street Corp boosted its holdings in Enterprise Financial Services by 33.0% in the 2nd quarter. State Street Corp now owns 990,881 shares of the bank’s stock worth $45,967,000 after buying an additional 245,757 shares during the period. 66.60% of the stock is owned by institutional investors.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. operates as a financial holding company. The firm engages in the provision of business and personal banking services and wealth management services. It also offers lending services which include commercial and industrial commercial real estate, real estate construction and development, residential real estate and consumer loans.

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