State Street Corp Reduces Position in Enterprise Financial Services Corp (NASDAQ:EFSC)

State Street Corp decreased its position in Enterprise Financial Services Corp (NASDAQ:EFSC) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,066,665 shares of the bank’s stock after selling 11,552 shares during the period. State Street Corp owned approximately 2.87% of Enterprise Financial Services worth $54,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Enterprise Financial Services by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank’s stock worth $85,257,000 after purchasing an additional 71,502 shares during the last quarter. Earnest Partners LLC increased its holdings in Enterprise Financial Services by 3.2% in the 2nd quarter. Earnest Partners LLC now owns 1,955,988 shares of the bank’s stock worth $80,019,000 after buying an additional 59,809 shares during the period. American Century Companies Inc. raised its position in Enterprise Financial Services by 19.1% during the 2nd quarter. American Century Companies Inc. now owns 655,490 shares of the bank’s stock worth $26,816,000 after buying an additional 104,960 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Enterprise Financial Services by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 421,874 shares of the bank’s stock worth $21,625,000 after buying an additional 3,586 shares during the last quarter. Finally, F M Investments LLC lifted its stake in Enterprise Financial Services by 0.8% during the 3rd quarter. F M Investments LLC now owns 218,978 shares of the bank’s stock valued at $11,225,000 after acquiring an additional 1,835 shares during the period. Institutional investors and hedge funds own 72.21% of the company’s stock.

Insider Buying and Selling at Enterprise Financial Services

In other Enterprise Financial Services news, Director Richard Sanborn sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Enterprise Financial Services Price Performance

Shares of NASDAQ EFSC opened at $55.59 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 11.78 and a beta of 0.99. The firm’s 50 day simple moving average is $56.89 and its 200-day simple moving average is $50.31. Enterprise Financial Services Corp has a 12 month low of $37.28 and a 12 month high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings results on Monday, October 21st. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.14 by $0.15. The company had revenue of $164.89 million for the quarter, compared to analyst estimates of $157.56 million. Enterprise Financial Services had a net margin of 19.73% and a return on equity of 10.81%. Analysts expect that Enterprise Financial Services Corp will post 4.77 EPS for the current 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 is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, December 16th. This represents a $1.12 dividend on an annualized basis and a yield of 2.01%. Enterprise Financial Services’s dividend payout ratio is presently 23.73%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Enterprise Financial Services from $59.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler increased their price target 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.

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.