Piper Sandler lowered the firm’s price target on Enterprise Financial to $42 from $45 and keeps an Overweight rating on the shares following quarterly results. The firm made several adjustments to its model including stronger margins, but a slightly smaller earning asset base and higher expenses to reflect faster growth in specialty deposits and associated servicing costs. Piper also slowed its loan growth outlook for the coming quarters to a mid-single-digit pace.
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