JPMorgan Chase & Co. Purchases 29,747 Shares of Enterprise Financial Services Corp (NASDAQ:EFSC)

JPMorgan Chase & Co. increased its stake in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 557,875 shares of the bank's stock after acquiring an additional 29,747 shares during the period. JPMorgan Chase & Co. owned about 1.50% of Enterprise Financial Services worth $28,597,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Enterprise Financial Services by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 212,285 shares of the bank's stock valued at $8,685,000 after buying an additional 7,667 shares during the period. Principal Financial Group Inc. raised its stake in shares of Enterprise Financial Services by 8.3% during the second quarter. Principal Financial Group Inc. now owns 19,392 shares of the bank's stock valued at $793,000 after acquiring an additional 1,488 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Enterprise Financial Services by 1.7% during the second quarter. Rhumbline Advisers now owns 70,761 shares of the bank's stock worth $2,895,000 after purchasing an additional 1,186 shares during the period. Victory Capital Management Inc. grew its stake in shares of Enterprise Financial Services by 5.0% in the second quarter. Victory Capital Management Inc. now owns 15,942 shares of the bank's stock worth $652,000 after purchasing an additional 754 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Enterprise Financial Services by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 10,502 shares of the bank's stock valued at $430,000 after purchasing an additional 228 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard Sanborn sold 100,000 shares of the company'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 value of $5,956,000.00. Following the sale, the director now owns 40,950 shares in the company, valued at $2,438,982. This represents a 70.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EFSC shares. Keefe, Bruyette & Woods lifted their price objective on Enterprise Financial Services from $59.00 to $68.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Piper Sandler lifted their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd.

Enterprise Financial Services Trading Up 1.0 %

EFSC stock traded up $0.53 during trading on Wednesday, reaching $55.65. The company had a trading volume of 165,041 shares, compared to its average volume of 156,668. The business has a 50 day moving average of $57.99 and a 200 day moving average of $52.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $2.07 billion, a P/E ratio of 11.79 and a beta of 1.00. Enterprise Financial Services Corp has a 52 week low of $37.28 and a 52 week high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.15. The company had revenue of $164.89 million during the quarter, compared to analysts' expectations of $157.56 million. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. As a group, sell-side 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Enterprise Financial Services's previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.01%. Enterprise Financial Services's dividend payout ratio is currently 23.73%.

About Enterprise Financial Services

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.