30,425 Shares in Enterprise Financial Services Corporation $EFSC Acquired by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 30,425 shares of Enterprise Financial Services during the second quarter, worth approximately $2.0 million. Institutional investors collectively own 72.21% of the bank’s stock.
• Analysts maintain a positive outlook, with four Buy ratings and one Hold rating producing a consensus “Moderate Buy” recommendation and an average price target of $70, above the $64.66 opening price cited.
• Enterprise Financial Services increased its quarterly dividend to $0.35 per share, implying an annualized dividend of $1.40 and a 2.2% yield. Its latest quarterly earnings of $1.13 per share missed the $1.33 analyst consensus.

Legal & General Group Plc purchased a new stake in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 30,425 shares of the bank's stock, valued at approximately $2,004,000. Legal & General Group Plc owned 0.08% of Enterprise Financial Services at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in Enterprise Financial Services by 929.0% in the second quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank's stock worth $35,000 after purchasing an additional 576 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Enterprise Financial Services in the 2nd quarter valued at about $60,000. Kestra Advisory Services LLC purchased a new position in shares of Enterprise Financial Services in the 4th quarter worth approximately $99,000. Fifth Third Bancorp purchased a new position in shares of Enterprise Financial Services in the 1st quarter worth approximately $109,000. Finally, Comerica Bank raised its stake in shares of Enterprise Financial Services by 17.4% during the 3rd quarter. Comerica Bank now owns 2,041 shares of the bank's stock worth $118,000 after acquiring an additional 303 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EFSC shares. Wall Street Zen raised shares of Enterprise Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday. Piper Sandler upped their price target on Enterprise Financial Services from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Raymond James Financial raised their price objective on Enterprise Financial Services from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods upped their target price on Enterprise Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $70.00.

Enterprise Financial Services Stock Performance

Shares of EFSC stock opened at $64.66 on Monday. The business has a fifty day moving average of $65.48 and a 200 day moving average of $60.98. Enterprise Financial Services Corporation has a 1 year low of $51.18 and a 1 year high of $68.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 12.85 and a beta of 0.78.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.20). The firm had revenue of $187.37 million during the quarter, compared to analyst estimates of $189.15 million. Enterprise Financial Services had a net margin of 18.72% and a return on equity of 9.70%. As a group, research analysts expect that Enterprise Financial Services Corporation will post 5.31 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, September 15th. This is an increase from Enterprise Financial Services's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.2%. Enterprise Financial Services's dividend payout ratio (DPR) is currently 27.04%.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. NASDAQ: EFSC is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.

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