The Manufacturers Life Insurance Company Boosts Stock Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

The Manufacturers Life Insurance Company lifted its stake in Enterprise Financial Services Corp (NASDAQ:EFSC) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,177 shares of the bank’s stock after purchasing an additional 819 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.05% of Enterprise Financial Services worth $785,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in Enterprise Financial Services in the 2nd quarter valued at about $29,000. Innealta Capital LLC bought a new stake in Enterprise Financial Services in the second quarter valued at about $31,000. EntryPoint Capital LLC boosted its holdings in Enterprise Financial Services by 87.4% in the first quarter. EntryPoint Capital LLC now owns 3,927 shares of the bank’s stock worth $159,000 after purchasing an additional 1,831 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Enterprise Financial Services by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank’s stock worth $178,000 after purchasing an additional 370 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Enterprise Financial Services in the 1st quarter worth about $178,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Enterprise Financial Services

In related news, Director Richard Sanborn sold 94,815 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.73, for a total value of $5,094,409.95. Following the completion of the transaction, the director now owns 139,460 shares of the company’s stock, valued at $7,493,185.80. This represents a 0.00 % 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 owned by corporate insiders.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price objective on shares of Enterprise Financial Services from $45.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th.

Enterprise Financial Services Stock Performance

EFSC stock opened at $51.18 on Tuesday. The firm has a 50 day simple moving average of $50.54 and a 200 day simple moving average of $44.36. The stock has a market cap of $1.92 billion, a P/E ratio of 10.96 and a beta of 0.97. Enterprise Financial Services Corp has a 52 week low of $32.97 and a 52 week high of $54.88. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.92 and a current ratio of 0.92.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $156.02 million during the quarter, compared to the consensus estimate of $153.41 million. Research analysts anticipate that Enterprise Financial Services Corp will post 4.58 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.27 per share. The ex-dividend date was Monday, September 16th. This represents a $1.08 dividend on an annualized basis and a yield of 2.11%. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.26. Enterprise Financial Services’s payout ratio is 23.13%.

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.