Eagle Asset Management Inc. Takes $6.10 Million Position in Enterprise Financial Services Corp (NASDAQ:EFSC)

Eagle Asset Management Inc. purchased a new stake in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 118,898 shares of the bank’s stock, valued at approximately $6,095,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EFSC. Charles Schwab Investment Management Inc. raised its holdings in Enterprise Financial Services by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 421,874 shares of the bank’s stock valued at $21,625,000 after buying an additional 3,586 shares during the period. Foundry Partners LLC raised its holdings in Enterprise Financial Services by 1,856.8% in the 3rd quarter. Foundry Partners LLC now owns 130,869 shares of the bank’s stock valued at $6,708,000 after buying an additional 124,181 shares during the period. Intech Investment Management LLC purchased a new stake in Enterprise Financial Services in the 3rd quarter valued at about $297,000. Advisors Asset Management Inc. raised its holdings in Enterprise Financial Services by 169.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,452 shares of the bank’s stock valued at $177,000 after buying an additional 2,172 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Enterprise Financial Services in the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Insider Activity at Enterprise Financial Services

In related news, Director Richard Sanborn sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.56, for a total value of $5,956,000.00. Following the completion of the transaction, the director now directly owns 40,950 shares of the company’s stock, valued at $2,438,982. This represents a 70.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Enterprise Financial Services Stock Up 1.6 %

EFSC stock opened at $60.74 on Monday. The company’s 50 day moving average price is $53.63 and its 200 day moving average price is $47.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.91 and a current ratio of 0.91. Enterprise Financial Services Corp has a fifty-two week low of $36.73 and a fifty-two week high of $61.68. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.87 and a beta of 0.96.

Enterprise Financial Services (NASDAQ:EFSC) last released its earnings results on Monday, October 21st. The bank reported $1.29 earnings per share 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 firm had revenue of $164.89 million for the quarter, compared to analyst estimates of $157.56 million. On average, equities research analysts anticipate that Enterprise Financial Services Corp will post 4.77 EPS 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. 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 yield of 1.84%. This is an increase 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 22.88%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler boosted their price objective on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd.

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.