Millennium Management LLC Has $5.13 Million Stake in Enterprise Financial Services Corp (NASDAQ:EFSC)

Millennium Management LLC decreased its stake in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 15.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 125,472 shares of the bank’s stock after selling 23,152 shares during the period. Millennium Management LLC owned 0.33% of Enterprise Financial Services worth $5,133,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in EFSC. F M Investments LLC acquired a new position in shares of Enterprise Financial Services during the 2nd quarter valued at about $8,884,000. Wellington Management Group LLP increased its holdings in shares of Enterprise Financial Services by 7.0% during the 4th quarter. Wellington Management Group LLP now owns 2,295,011 shares of the bank’s stock valued at $102,472,000 after acquiring an additional 150,023 shares during the last quarter. American Century Companies Inc. increased its holdings 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 acquiring an additional 104,960 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Enterprise Financial Services by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank’s stock valued at $85,257,000 after acquiring an additional 71,502 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Enterprise Financial Services by 3.2% during the 2nd quarter. Earnest Partners LLC now owns 1,955,988 shares of the bank’s stock valued at $80,019,000 after acquiring an additional 59,809 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Enterprise Financial Services Stock Performance

EFSC opened at $50.67 on Friday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 10.85 and a beta of 0.97. The stock’s 50 day moving average price is $50.47 and its two-hundred day moving average price is $44.22. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.25. Enterprise Financial Services Corp has a 12-month low of $32.97 and a 12-month high of $54.88.

Enterprise Financial Services (NASDAQ:EFSC) last released its earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. Enterprise Financial Services had a return on equity of 10.95% and a net margin of 19.61%. The firm had revenue of $156.02 million for the quarter, compared to analyst estimates of $153.41 million. On average, equities analysts forecast that Enterprise Financial Services Corp will post 4.58 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.26. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 23.13%.

Analyst Ratings Changes

Separately, Piper Sandler raised their target price on Enterprise Financial Services from $45.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th.

Insider Transactions at Enterprise Financial Services

In other news, Director Richard Sanborn sold 94,815 shares of Enterprise Financial Services stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.73, for a total transaction of $5,094,409.95. Following the sale, the director now owns 139,460 shares of the company’s stock, valued at approximately $7,493,185.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is 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.