William Blair Investment Management LLC Sells 50,627 Shares of Enterprise Financial Services Corporation $EFSC

William Blair Investment Management LLC trimmed its stake in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 613,019 shares of the bank’s stock after selling 50,627 shares during the quarter. William Blair Investment Management LLC’s holdings in Enterprise Financial Services were worth $33,777,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EFSC. Wealth Enhancement Advisory Services LLC increased its stake in Enterprise Financial Services by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,640 shares of the bank’s stock worth $411,000 after acquiring an additional 302 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Enterprise Financial Services in the 1st quarter worth approximately $287,000. Allspring Global Investments Holdings LLC lifted its holdings in Enterprise Financial Services by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,232 shares of the bank’s stock worth $334,000 after buying an additional 2,182 shares during the period. KBC Group NV purchased a new stake in Enterprise Financial Services in the 1st quarter worth approximately $117,000. Finally, Principal Financial Group Inc. raised its position in shares of Enterprise Financial Services by 11.4% in the 1st quarter. Principal Financial Group Inc. now owns 19,214 shares of the bank’s stock worth $1,033,000 after acquiring an additional 1,962 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

Enterprise Financial Services Price Performance

NASDAQ EFSC opened at $53.12 on Friday. The company has a market capitalization of $1.96 billion, a PE ratio of 10.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.88. The business’s fifty day moving average is $58.66 and its 200 day moving average is $55.22. Enterprise Financial Services Corporation has a fifty-two week low of $45.22 and a fifty-two week high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings data on Monday, July 28th. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.17. Enterprise Financial Services had a return on equity of 11.19% and a net margin of 21.28%.The firm had revenue of $176.05 million during the quarter, compared to analyst estimates of $166.82 million. Sell-side analysts predict that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a yield of 2.3%. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.30. Enterprise Financial Services’s payout ratio is presently 23.53%.

Analyst Ratings Changes

EFSC has been the subject of several research reports. Piper Sandler assumed coverage on Enterprise Financial Services in a research report on Wednesday. They issued a “neutral” rating and a $64.00 target price for the company. Wall Street Zen raised Enterprise Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Financial Services in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Insider Activity at Enterprise Financial Services

In other news, Director Michael E. Finn bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were bought at an average cost of $54.11 per share, for a total transaction of $81,165.00. Following the completion of the transaction, the director owned 3,000 shares of the company’s stock, valued at approximately $162,330. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Enterprise Financial Services Profile

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.