UPDATE: FIG Partners Downgrades Rating to Market Perform on Enterprise Financial Services

A report from FIG Partners reiterates its $18.50 price target and downgrades its rating to Market Perform on Enterprise Financial Services EFSC. The report states, “We remain positive on the story and continue to believe shares remain a core holding for small cap bank investors and should trend higher over time as the company grows earnings and tangible book value. However we see no near term catalyst for shares to continue to outperform the market given the recent run up in price." EFSC closed Friday at $15.91.