Versant Capital Management Inc Takes $29,000 Position in Enterprise Financial Services Corp (NASDAQ:EFSC)

Versant Capital Management Inc acquired a new position in Enterprise Financial Services Corp (NASDAQ:EFSC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 511 shares of the bank’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EFSC. Jane Street Group LLC lifted its position in shares of Enterprise Financial Services by 27.9% in the 3rd quarter. Jane Street Group LLC now owns 42,846 shares of the bank’s stock worth $2,196,000 after purchasing an additional 9,345 shares during the period. Dimensional Fund Advisors LP increased its holdings in Enterprise Financial Services by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank’s stock valued at $85,257,000 after buying an additional 71,502 shares during the period. Franklin Resources Inc. raised its stake in Enterprise Financial Services by 94.8% in the third quarter. Franklin Resources Inc. now owns 46,727 shares of the bank’s stock worth $2,391,000 after buying an additional 22,739 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Enterprise Financial Services by 0.9% during the third quarter. Geode Capital Management LLC now owns 892,030 shares of the bank’s stock worth $45,734,000 after buying an additional 8,180 shares during the period. Finally, American Century Companies Inc. boosted 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 valued at $26,816,000 after acquiring an additional 104,960 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Enterprise Financial Services from $59.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler increased their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd.

Enterprise Financial Services Stock Performance

Shares of EFSC stock opened at $55.12 on Wednesday. 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 company has a market cap of $2.05 billion, a PE ratio of 11.68 and a beta of 1.00. Enterprise Financial Services Corp has a 12-month low of $37.28 and a 12-month high of $63.13. The business’s fifty day simple moving average is $57.99 and its 200-day simple moving average is $52.18.

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 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 company had revenue of $164.89 million during the quarter, compared to analysts’ expectations of $157.56 million. Analysts expect that Enterprise Financial Services Corp will post 4.77 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 Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.27. Enterprise Financial Services’s payout ratio is currently 23.73%.

Insiders Place Their Bets

In other Enterprise Financial Services news, Director Richard Sanborn sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total value of $5,956,000.00. Following the sale, the director now directly owns 40,950 shares of the company’s stock, valued at approximately $2,438,982. This represents a 70.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.30% of the company’s stock.

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.