Enterprise Financial Services (NASDAQ:EFSC) Shares Gap Up – Time to Buy?

Enterprise Financial Services Corp (NASDAQ:EFSC) gapped up prior to trading on Tuesday . The stock had previously closed at $51.54, but opened at $53.25. Enterprise Financial Services shares last traded at $52.54, with a volume of 26,332 shares trading hands.

Analyst Ratings Changes

Separately, Piper Sandler increased their price target on Enterprise Financial Services from $45.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.

Enterprise Financial Services Price Performance

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 11.38 and a beta of 0.97. The business’s 50 day simple moving average is $51.00 and its 200-day simple moving average is $44.84.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.15. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%. The business had revenue of $156.02 million for the quarter, compared to analyst estimates of $153.41 million. On average, research analysts forecast that Enterprise Financial Services Corp will post 4.58 earnings per share for the current year.

Insider Buying and Selling at Enterprise Financial Services

In other Enterprise Financial Services news, Director Richard Sanborn sold 94,815 shares of Enterprise Financial Services stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $53.73, for a total value of $5,094,409.95. Following the transaction, the director now owns 139,460 shares in the company, valued at $7,493,185.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Institutional Trading of Enterprise Financial Services

A number of hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of Enterprise Financial Services in the 2nd quarter valued at $29,000. Innealta Capital LLC acquired a new stake in shares of Enterprise Financial Services during the second quarter valued at about $31,000. EntryPoint Capital LLC grew its holdings in shares of Enterprise Financial Services by 87.4% during the first quarter. EntryPoint Capital LLC now owns 3,927 shares of the bank’s stock worth $159,000 after purchasing an additional 1,831 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Enterprise Financial Services by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank’s stock valued at $178,000 after buying an additional 370 shares during the period. Finally, SG Americas Securities LLC bought a new position in Enterprise Financial Services in the 1st quarter valued at approximately $178,000. Institutional investors and hedge funds 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.