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Enterprise Financial Services
(NASDAQ:EFSC)
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Rating:68Neutral
Price Target:
$66.00
▲(3.94% Upside)
Action:Downgraded
Date:10/22/26
EFSC’s score is primarily supported by solid underlying profitability and reasonable leverage, plus a constructive earnings outlook (loan growth, stable-to-improving margin, and continued capital returns). The main constraints are weakened recent cash flow and ongoing credit normalization risks, while technical indicators are mixed and do not provide strong momentum support; valuation is reasonable and adds a modest lift.
Positive Factors
Diversified commercial growth platform
Broad loan and deposit growth supports recurring net interest income and demonstrates the platform can attract both assets and relationship funding. Expansion across commercial lending, specialty verticals and multiple markets reduces reliance on a single customer segment and supports durable scale.
Negative Factors
Elevated credit normalization risk
Credit metrics remain above the company’s historical range, and management expects normalization only over the next few quarters. Continued criticized assets, provisions and charge-offs could suppress earnings, consume capital and limit the benefit of otherwise strong loan growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified commercial growth platform
Broad loan and deposit growth supports recurring net interest income and demonstrates the platform can attract both assets and relationship funding. Expansion across commercial lending, specialty verticals and multiple markets reduces reliance on a single customer segment and supports durable scale.
Read all positive factors
Enterprise Financial Services Key Performance Indicators (KPIs)
Any
Wealth Management Trust Assets Under Management
Indicates the total value of assets managed in trust accounts, reflecting the company's strength in wealth management and its ability to attract and retain high-net-worth clients.
Indicates the total value of assets managed in trust accounts, reflecting the company's strength in wealth management and its ability to attract and retain high-net-worth clients.
Data provided by:
The Fly
The FlyEnterprise Financial Services (EFSC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.19B
Dividend Yield2.18%
Average Volume (3M)280.82K
Price to Earnings (P/E)12.2
Beta (1Y)0.67
Revenue Growth1.68%
EPS Growth-3.12%
CountryUS
Employees1,370
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)5.07
Shares Outstanding35,775,000
10 Day Avg. Volume222,336
30 Day Avg. Volume280,816
Financial Highlights & Ratios
PEG Ratio1.00
Price to Book (P/B)0.98
Price to Sales (P/S)2.19
P/FCF Ratio11.00
Enterprise Value/Market Cap1.14
Enterprise Value/Revenue2.53
Enterprise Value/Gross Profit3.58
Enterprise Value/Ebitda8.72
Forecast
1Y Price Target
$70.00Price Target Upside10.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)5.1
Revenue Forecast (FY)$762.07M
Enterprise Financial Services Business Overview & Revenue Model
Company Description
Enterprise Financial Services Corp (EFSC) serves as the parent financial holding company for Enterprise Bank & Trust. Through this subsidiary, it delivers a comprehensive array of banking and wealth management solutions to both individual and corp...
How the Company Makes Money
EFSC primarily makes money through its banking subsidiary by earning net interest income and generating noninterest (fee-based) income. Net interest income is the largest core revenue stream for most commercial banks and is produced by (1) interes...
Enterprise Financial Services Earnings Call Summary
Earnings Call Date:Oct 21, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 25, 2027
Earnings Call Sentiment Positive
The call was positive overall, with strong and diversified loan and deposit growth, improving net interest income, stable-to-improving margins, disciplined expenses, capital returns, and confidence in 2027 profitability. These strengths were tempered by elevated credit costs, higher non-performing and criticized assets, delayed California OREO resolution, volatile tax credit income, and competitive spread pressure. Management expressed confidence that credit metrics and earnings will improve over the next few quarters.Positive Updates
Quarterly Earnings and Pre-Provision Profitability
Third-quarter net income was $42 million, or $1.14 per diluted share, compared with $1.09 in the second quarter and $1.19 in the third quarter of 2025. Adjusted earnings per share was $1.17, up from $1.13 in the linked quarter. Pre-provision earnings increased $6 million to $75 million, primarily due to higher net interest income.
Negative Updates
Elevated Credit Costs Compressed Earnings
A larger-than-expected provision expense reduced operating results. Provision expense increased to $18.1 million from $14.2 million in the linked quarter, driven by net charge-offs, higher non-performing loans, and $453 million of loan growth.
Read all updates
Q3-2026 Updates
Positive
Negative
Quarterly Earnings and Pre-Provision Profitability
Third-quarter net income was $42 million, or $1.14 per diluted share, compared with $1.09 in the second quarter and $1.19 in the third quarter of 2025. Adjusted earnings per share was $1.17, up from $1.13 in the linked quarter. Pre-provision earnings increased $6 million to $75 million, primarily due to higher net interest income.
Read all positive updates
Company Guidance
Management expects mid to high single-digit loan growth for the remainder of 2026, normalizing back to the mid-single-digit growth for the first part of 2027; it also expects quarterly loan growth of $200 million-$250 million, with 5%-6% growth requiring approximately $900 million-$1 billion net. Credit normalization is expected over the next few quarters, with criticized classified levels moving from about 6.3% toward 4.5%-5% and non-performing assets returning to closer to 45-50 basis points; certain credits may exit in the fourth quarter, while Laguna portfolio monetization is realistically expected in Q1 of next year. Net charge-offs around 25 basis points would feel like a victory in the short-term, and provision on new growth is expected at 100 basis points-115 basis points. Margin is expected to move a couple basis points higher in the fourth quarter, with a mid-4.30s margin entering 4Q and upward buoyancy over the next several quarters; each quarter point change in rates affects net interest income $1 million-$2 million per quarter, and deposit betas are modeled at 55%. Fourth-quarter expenses excluding deposit costs are expected to be relatively level to 3Q, while the deposit ECR line item is expected to move up $1.5 million to $2 million sequentially; the state tax credit business may be changed over the next quarter or two, the tax rate is expected to remain roughly 22%, and the efficiency ratio is expected to remain below 60%.Enterprise Financial Services Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 988.36M | 912.39M | 814.41M | 743.52M | 533.66M | 421.60M |
| Gross Profit | 698.48M | 624.38M | 509.94M | 504.58M | 493.09M | 385.18M |
| EBITDA | 287.16M | 295.15M | 241.32M | 257.87M | 273.47M | 182.78M |
| Net Income | 190.32M | 201.37M | 185.27M | 194.06M | 203.04M | 133.06M |
Balance Sheet | ||||||
| Total Assets | 17.40B | 17.30B | 15.60B | 14.52B | 13.05B | 13.54B |
| Cash, Cash Equivalents and Short-Term Investments | 273.88M | 213.87M | 875.37M | 2.05B | 1.83B | 3.39B |
| Total Debt | 682.08M | 508.55M | 437.37M | 453.81M | 579.55M | 558.76M |
| Total Liabilities | 15.36B | 15.26B | 13.77B | 12.80B | 11.53B | 12.01B |
| Stockholders Equity | 2.04B | 2.04B | 1.82B | 1.72B | 1.52B | 1.53B |
Cash Flow | ||||||
| Free Cash Flow | 211.43M | 181.53M | 239.93M | 261.68M | 214.71M | 158.07M |
| Operating Cash Flow | 219.37M | 193.51M | 247.40M | 268.24M | 216.64M | 160.57M |
| Investing Cash Flow | -620.05M | -1.08B | -796.87M | -1.31B | -1.38B | -23.11M |
| Financing Cash Flow | 461.22M | 803.17M | 880.61M | 1.18B | -563.19M | 1.35B |
Enterprise Financial Services Technical Analysis
Positive
63.50
Price Trends
61.65
Negative
63.16
Negative
59.92
Positive
Market Momentum
-0.27
Negative
56.07
Neutral
84.17
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EFSC, the sentiment is Positive. The current price of 63.5 is above the 20-day moving average (MA) of 59.65, above the 50-day MA of 61.65, and above the 200-day MA of 59.92, indicating a neutral trend. The MACD of -0.27 indicates Negative momentum. The RSI at 56.07 is Neutral, neither overbought nor oversold. The STOCH value of 84.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EFSC.
Enterprise Financial Services Risk Analysis
Enterprise Financial Services disclosed 44 risk factors in its most recent earnings report. Enterprise Financial Services reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Enterprise Financial Services Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $2.50B | 10.91 | 9.51% | 3.43% | 35.64% | 113.53% | |
74 Outperform | $1.74B | 11.13 | 12.02% | 1.35% | 2.04% | 22.06% | |
72 Outperform | $1.69B | 12.08 | 12.50% | 0.40% | 3.11% | 18.83% | |
70 Outperform | $1.75B | 19.91 | 3.53% | ― | 27.40% | -37.23% | |
68 Neutral | $2.19B | 12.22 | 9.35% | 2.22% | 1.68% | -3.12% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $1.72B | 15.13 | 6.47% | 3.27% | 8.27% | -23.33% |
* Financial Sector Average
EFSC
Enterprise Financial Services
61.35
7.66
14.26%
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FSUN
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Enterprise Financial Services Corporate Events
Business Operations and StrategyExecutive/Board Changes
Enterprise Financial Services Announces Board Leadership Transition
Neutral
Aug 20, 2026
Enterprise Financial Services disclosed that director Sandra A. Van Trease resigned from the boards of the company and its subsidiary, Enterprise Bank Trust, effective August 19, 2026. Before stepping down, she chaired the Nominating and Governan...
Business Operations and StrategyFinancial Disclosures
Enterprise Financial Services Highlights Q2 2026 Growth Momentum
Positive
Jul 27, 2026
In a July 2026 investor presentation, Enterprise Financial Services Corp outlined its unique value proposition as a focused commercial bank serving privately owned businesses through a diversified mix of regional and national lending and deposit v...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresPrivate Placements and Financing
Enterprise Financial Services Expands Share Buyback, Raises Dividend
Positive
Jul 22, 2026
On July 20, 2026, Enterprise Financial Services Corp’s board authorized the repurchase of up to 2,000,000 additional common shares, lifting its existing buyback capacity to roughly 5% of shares outstanding and underscoring continued capital ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.