Jennison Associates LLC decreased its holdings in shares of Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & 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 quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EFSC. SG Americas Securities LLC acquired a new position in Enterprise Financial Services during the 1st quarter worth $178,000. ProShare Advisors LLC raised its holdings in shares of Enterprise Financial Services by 8.6% in the 1st quarter. ProShare Advisors LLC now owns 6,525 shares of the bank's stock valued at $265,000 after purchasing an additional 515 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Enterprise Financial Services by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,020,424 shares of the bank's stock worth $81,948,000 after purchasing an additional 25,576 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Enterprise Financial Services by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,824 shares of the bank's stock worth $1,007,000 after purchasing an additional 1,269 shares in the last quarter. Finally, Boston Partners purchased a new position in Enterprise Financial Services in the first quarter valued at $873,000. 72.21% of the stock is owned by institutional investors and hedge funds.
In related news, Director Richard Sanborn sold 100,000 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.30% of the company's stock.
Separately, Piper Sandler upped their price objective 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.
Get Our Latest Analysis on EFSC
Shares of Enterprise Financial Services stock opened at $60.74 on Friday. The company has a fifty day simple moving average of $53.44 and a 200-day simple moving average of $47.55. Enterprise Financial Services Corp has a 12-month low of $36.73 and a 12-month high of $61.68. 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 market cap of $2.26 billion, a price-to-earnings ratio of 12.87 and a beta of 0.96.
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 return on equity of 10.81% and a net margin of 19.73%. The business had revenue of $164.89 million for the quarter, compared to analysts' expectations of $157.56 million. On average, equities analysts forecast that Enterprise Financial Services Corp will post 4.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.28 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.12 dividend on an annualized basis and a yield of 1.84%. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.27. Enterprise Financial Services's payout ratio is currently 22.88%.
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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