Bank of America Corp DE Purchases 21,269 Shares of Enterprise Financial Services Corporation $EFSC

Key Points

• Bank of America increased its EFSC stake by 5.7%, buying 21,269 shares to own 397,357 shares valued at approximately $21.5 million. Institutional investors collectively hold 72.21% of Enterprise Financial Services.
• Enterprise Financial Services reported quarterly EPS of $1.13, below the $1.33 consensus estimate, while revenue of $187.37 million also fell short of expectations. The stock opened at $65.44, with a market capitalization of about $2.37 billion.
• The company raised its quarterly dividend from $0.34 to $0.35 per share, implying a 2.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $70.00, although one firm downgraded the stock to sell.

Bank of America Corp DE raised its holdings in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,357 shares of the bank's stock after buying an additional 21,269 shares during the period. Bank of America Corp DE owned about 1.09% of Enterprise Financial Services worth $21,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of EFSC. Royal Bank of Canada raised its holdings in shares of Enterprise Financial Services by 311.2% in the 1st quarter. Royal Bank of Canada now owns 8,591 shares of the bank's stock valued at $464,000 after purchasing an additional 6,502 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Enterprise Financial Services by 2.9% in the 1st quarter. Empowered Funds LLC now owns 157,012 shares of the bank's stock valued at $8,496,000 after acquiring an additional 4,402 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Enterprise Financial Services by 371.9% in the 1st quarter. Quantinno Capital Management LP now owns 41,295 shares of the bank's stock valued at $2,235,000 after acquiring an additional 32,545 shares during the period. Lazard Asset Management LLC raised its position in shares of Enterprise Financial Services by 1.9% in the 1st quarter. Lazard Asset Management LLC now owns 25,327 shares of the bank's stock worth $1,370,000 after acquiring an additional 475 shares in the last quarter. Finally, Entropy Technologies LP lifted its stake in shares of Enterprise Financial Services by 29.7% during the 1st quarter. Entropy Technologies LP now owns 5,966 shares of the bank's stock worth $323,000 after purchasing an additional 1,366 shares during the last quarter. Institutional investors own 72.21% of the company's stock.

Enterprise Financial Services Stock Performance

EFSC opened at $65.44 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.35. Enterprise Financial Services Corporation has a 12-month low of $51.18 and a 12-month high of $68.73. The firm has a 50 day moving average of $65.49 and a two-hundred day moving average of $60.58. The firm has a market capitalization of $2.37 billion, a PE ratio of 13.01 and a beta of 0.79.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.13 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.20). The business had revenue of $187.37 million during the quarter, compared to analysts' expectations of $189.15 million. Enterprise Financial Services had a net margin of 18.72% and a return on equity of 9.70%. On average, analysts anticipate that Enterprise Financial Services Corporation will post 5.31 EPS for the current year.

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 2.1%. Enterprise Financial Services's dividend payout ratio is presently 27.83%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EFSC. Keefe, Bruyette & Woods increased their price target on Enterprise Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Piper Sandler boosted their price target on Enterprise Financial Services from $67.00 to $68.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Weiss Ratings restated a "buy (b)" rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Raymond James Financial raised their price target on shares of Enterprise Financial Services from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of Enterprise Financial Services from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Enterprise Financial Services currently has an average rating of "Moderate Buy" and a consensus target price of $70.00.

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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