Wellington Management Group LLP Boosts Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

Wellington Management Group LLP lifted its holdings in shares of Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 16.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,545,092 shares of the bank's stock after acquiring an additional 505,552 shares during the quarter. Wellington Management Group LLP owned approximately 9.55% of Enterprise Financial Services worth $181,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EFSC. Parkside Financial Bank & Trust increased its stake in shares of Enterprise Financial Services by 2.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 8,133 shares of the bank's stock valued at $333,000 after purchasing an additional 224 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Enterprise Financial Services by 2.2% in 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. Cornercap Investment Counsel Inc. lifted its stake in shares of Enterprise Financial Services by 0.8% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 29,469 shares of the bank's stock valued at $1,206,000 after purchasing an additional 229 shares during the period. Quest Partners LLC lifted its stake in shares of Enterprise Financial Services by 4.8% in the 2nd quarter. Quest Partners LLC now owns 10,851 shares of the bank's stock valued at $444,000 after purchasing an additional 500 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Enterprise Financial Services by 6.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,339 shares of the bank's stock valued at $581,000 after purchasing an additional 645 shares during the period. 72.21% of the stock is currently owned by institutional investors.

Enterprise Financial Services Stock Down 1.4 %

Shares of EFSC stock traded down $0.82 during trading hours on Monday, hitting $59.37. 96,708 shares of the company's stock traded hands, compared to its average volume of 148,468. The stock's fifty day simple moving average is $55.39 and its two-hundred day simple moving average is $49.24. Enterprise Financial Services Corp has a 12-month low of $37.28 and a 12-month high of $63.13. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 12.75 and a beta of 0.99. 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 (NASDAQ:EFSC - Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $1.29 EPS for the quarter, topping 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 business had revenue of $164.89 million during the quarter, compared to the consensus estimate of $157.56 million. On average, analysts expect that Enterprise Financial Services Corp will post 4.77 EPS for the current 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 given a $0.28 dividend. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, December 16th. Enterprise Financial Services's dividend payout ratio is 22.88%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EFSC. Keefe, Bruyette & Woods upped their target price on Enterprise Financial Services from $59.00 to $68.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Piper Sandler increased their target price on Enterprise Financial Services from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd.

Insider Buying and Selling

In related news, Director Richard Sanborn sold 100,000 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 40,950 shares in the company, valued at $2,438,982. The trade was a 70.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.