Jennison Associates LLC reduced its stake in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC – Free Report) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 607,892 shares of the bank’s stock after selling 13,932 shares during the quarter. Jennison Associates LLC’s holdings in Enterprise Financial Services were worth $32,893,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd raised its holdings in Enterprise Financial Services by 2.7% in the first quarter. Y Intercept Hong Kong Ltd now owns 8,352 shares of the bank’s stock worth $452,000 after purchasing an additional 219 shares in the last quarter. First Horizon Corp boosted its holdings in shares of Enterprise Financial Services by 55.6% in the 4th quarter. First Horizon Corp now owns 708 shares of the bank’s stock valued at $38,000 after buying an additional 253 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Enterprise Financial Services by 9.8% in the 4th quarter. Federated Hermes Inc. now owns 2,890 shares of the bank’s stock worth $156,000 after buying an additional 259 shares during the last quarter. Comerica Bank raised its stake in shares of Enterprise Financial Services by 17.4% during the 3rd quarter. Comerica Bank now owns 2,041 shares of the bank’s stock worth $118,000 after acquiring an additional 303 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Enterprise Financial Services by 65.0% during the 4th quarter. Signaturefd LLC now owns 812 shares of the bank’s stock worth $44,000 after acquiring an additional 320 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.
Insider Activity at Enterprise Financial Services
In other news, EVP Mark G. Ponder sold 1,250 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $60.55, for a total transaction of $75,687.50. Following the completion of the sale, the executive vice president owned 23,526 shares of the company’s stock, valued at $1,424,499.30. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.
Enterprise Financial Services Trading Down 0.8%
Enterprise Financial Services (NASDAQ:EFSC – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The bank reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.01. Enterprise Financial Services had a net margin of 19.81% and a return on equity of 10.35%. The firm had revenue of $188.85 million during the quarter, compared to analysts’ expectations of $174.02 million. Equities research analysts predict that Enterprise Financial Services Corporation will post 5.57 earnings per share for the current year.
Enterprise Financial Services Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.34 per share. The ex-dividend date was Monday, June 15th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 2.0%. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 25.66%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Enterprise Financial Services from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Raymond James Financial upped their price target on Enterprise Financial Services from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Financial Services in a research report on Friday, July 10th. Wall Street Zen downgraded Enterprise Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods upped their target price on Enterprise Financial Services from $66.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.50.
Get Our Latest Stock Report on EFSC
Enterprise Financial Services Company Profile
Enterprise Financial Services Corp. (NASDAQ: EFSC) is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.
In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.
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