Eagle Asset Management Inc. Purchases New Shares in Enterprise Financial Services Corp (NASDAQ:EFSC)

Eagle Asset Management Inc. purchased a new position in shares of Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 118,898 shares of the bank's stock, valued at approximately $6,095,000. Eagle Asset Management Inc. owned 0.32% of Enterprise Financial Services as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in shares of Enterprise Financial Services by 8.6% in the first quarter. ProShare Advisors LLC now owns 6,525 shares of the bank's stock worth $265,000 after purchasing an additional 515 shares in the last quarter. Vanguard Group Inc. raised its holdings in Enterprise Financial Services by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,020,424 shares of the bank's stock valued at $81,948,000 after acquiring an additional 25,576 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Enterprise Financial Services by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,824 shares of the bank's stock worth $1,007,000 after acquiring an additional 1,269 shares in the last quarter. Boston Partners bought a new position in shares of Enterprise Financial Services in the first quarter worth $873,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Enterprise Financial Services in the second quarter valued at $1,394,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

Insider Buying and Selling

In related news, Director Richard Sanborn sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.56, for a total transaction of $5,956,000.00. Following the transaction, the director now directly owns 40,950 shares in the company, valued at $2,438,982. This trade represents a 70.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Enterprise Financial Services Price Performance

NASDAQ:EFSC traded up $0.64 during trading hours on Monday, hitting $61.38. The stock had a trading volume of 295,502 shares, compared to its average volume of 148,657. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 13.10 and a beta of 0.96. Enterprise Financial Services Corp has a one year low of $36.73 and a one year high of $63.13. The company has a 50 day simple moving average of $53.63 and a two-hundred day simple moving average of $47.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.14 by $0.15. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. The business had revenue of $164.89 million during the quarter, compared to analysts' expectations of $157.56 million. Research analysts forecast that Enterprise Financial Services Corp will post 4.77 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.28 per share. This is an increase from Enterprise Financial Services's previous quarterly dividend of $0.27. The ex-dividend date is Monday, December 16th. This represents a $1.12 dividend on an annualized basis and a yield of 1.82%. Enterprise Financial Services's dividend payout ratio (DPR) is presently 23.73%.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their target price on Enterprise Financial Services from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd.

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.