Enterprise Financial Services Corp (NASDAQ:EFSC) Holdings Lowered by State Street Corp

State Street Corp lowered its stake in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,066,665 shares of the bank's stock after selling 11,552 shares during the quarter. State Street Corp owned about 2.87% of Enterprise Financial Services worth $54,677,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. F M Investments LLC acquired a new position in shares of Enterprise Financial Services in the second quarter worth about $8,884,000. Foundry Partners LLC increased its holdings in Enterprise Financial Services by 1,856.8% during the 3rd quarter. Foundry Partners LLC now owns 130,869 shares of the bank's stock worth $6,708,000 after purchasing an additional 124,181 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Enterprise Financial Services in the 3rd quarter valued at approximately $6,095,000. American Century Companies Inc. boosted its stake in shares of Enterprise Financial Services by 19.1% during the 2nd quarter. American Century Companies Inc. now owns 655,490 shares of the bank's stock valued at $26,816,000 after buying an additional 104,960 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Enterprise Financial Services by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank's stock worth $85,257,000 after buying an additional 71,502 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Financial Services Stock Performance

EFSC traded up $0.23 on Thursday, hitting $55.82. 215,118 shares of the company's stock were exchanged, compared to its average volume of 148,746. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $57.02 and a two-hundred day moving average of $50.35. Enterprise Financial Services Corp has a twelve month low of $37.28 and a twelve month high of $63.13. The firm has a market cap of $2.07 billion, a PE ratio of 11.83 and a beta of 0.99.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.15. The business had revenue of $164.89 million for the quarter, compared to the consensus estimate of $157.56 million. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, December 16th. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.27. Enterprise Financial Services's dividend payout ratio (DPR) is 23.73%.

Analyst Ratings Changes

EFSC has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods increased their target price on Enterprise Financial Services from $59.00 to $68.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th.

Insider Activity at Enterprise Financial Services

In other Enterprise Financial Services 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 value of $5,956,000.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently 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.