NFJ Investment Group LLC cut its stake in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 24.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,409 shares of the bank's stock after selling 20,674 shares during the quarter. NFJ Investment Group LLC owned approximately 0.17% of Enterprise Financial Services worth $3,302,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of Enterprise Financial Services in the second quarter worth $29,000. Innealta Capital LLC acquired a new position in shares of Enterprise Financial Services in the second quarter worth $31,000. FMR LLC increased its stake in shares of Enterprise Financial Services by 34.2% in the third quarter. FMR LLC now owns 2,560 shares of the bank's stock worth $131,000 after acquiring an additional 653 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Enterprise Financial Services by 169.7% in the third quarter. Advisors Asset Management Inc. now owns 3,452 shares of the bank's stock worth $177,000 after purchasing an additional 2,172 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Enterprise Financial Services in the third quarter worth $198,000. 72.21% of the stock is owned by institutional investors and hedge funds.
Enterprise Financial Services Stock Performance
EFSC stock traded up $0.49 during mid-day trading on Wednesday, reaching $59.51. 59,968 shares of the stock traded hands, compared to its average volume of 148,892. 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 52 week low of $37.28 and a 52 week high of $63.13. The business has a 50-day moving average of $54.83 and a two-hundred day moving average of $48.81. The firm has a market capitalization of $2.21 billion, a PE ratio of 12.54 and a beta of 0.99.
Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.15. Enterprise Financial Services had a net margin of 19.73% and a return on equity of 10.81%. The company had revenue of $164.89 million during the quarter, compared to analysts' expectations of $157.56 million. As a group, equities analysts predict that Enterprise Financial Services Corp will post 4.77 EPS 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 issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.88%. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, December 16th. Enterprise Financial Services's dividend payout ratio is 22.88%.
Insider Buying and Selling at Enterprise Financial Services
In related news, Director Richard Sanborn sold 100,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total value of $5,956,000.00. Following the completion of the sale, the director now owns 40,950 shares in the company, valued at approximately $2,438,982. This trade represents a 70.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Enterprise Financial Services from $59.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday. Piper Sandler upped their price objective 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.
View Our Latest Stock Analysis on Enterprise Financial Services
Enterprise Financial Services Company Profile
(
Free Report)
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.
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