Jennison Associates LLC Reduces Position in Enterprise Financial Services Corp (NASDAQ:EFSC)

Jennison Associates LLC reduced its position in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 441,630 shares of the bank's stock after selling 20,408 shares during the quarter. Jennison Associates LLC owned about 1.19% of Enterprise Financial Services worth $22,638,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EFSC. nVerses Capital LLC acquired a new position in Enterprise Financial Services during the 2nd quarter valued at about $29,000. Innealta Capital LLC acquired a new position in shares of Enterprise Financial Services during the second quarter valued at about $31,000. SG Americas Securities LLC purchased a new position in shares of Enterprise Financial Services in the 1st quarter valued at approximately $178,000. US Bancorp DE boosted its stake in Enterprise Financial Services by 46.2% in the 3rd quarter. US Bancorp DE now owns 3,873 shares of the bank's stock worth $199,000 after purchasing an additional 1,223 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new stake in Enterprise Financial Services during the 3rd quarter worth approximately $209,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

Wall Street Analyst Weigh In

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

Enterprise Financial Services Stock Performance

Shares of NASDAQ:EFSC traded up $0.97 during trading on Friday, hitting $60.74. The stock had a trading volume of 264,968 shares, compared to its average volume of 188,003. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. Enterprise Financial Services Corp has a 12-month low of $36.73 and a 12-month high of $61.68. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.87 and a beta of 0.96. The stock has a 50-day simple moving average of $53.63 and a two-hundred day simple moving average of $47.75.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.15. The company had revenue of $164.89 million during the quarter, compared to analyst estimates of $157.56 million. Enterprise Financial Services had a net margin of 19.73% and a return on equity of 10.81%. On average, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.84%. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.27. The ex-dividend date is Monday, December 16th. Enterprise Financial Services's dividend payout ratio is presently 22.88%.

Insiders Place Their Bets

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

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.