Bank of America Corp DE Takes $22.71 Million Position in Enterprise Financial Services Corporation $EFSC

Key Points

• Bank of America acquired 344,784 shares of Enterprise Financial Services, valued at approximately $22.7 million, giving it a 0.95% stake. Institutional investors collectively own 72.21% of the company.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $70 price target, although one research firm downgraded the stock to “sell.” EFSC recently traded at $59.85.
• Enterprise Financial Services missed quarterly earnings expectations, reporting EPS of $1.13 versus the $1.33 consensus estimate. The company nevertheless raised its quarterly dividend to $0.35, implying a 2.3% annualized yield.

Bank of America Corp DE bought a new position in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 344,784 shares of the bank's stock, valued at approximately $22,714,000. Bank of America Corp DE owned approximately 0.95% of Enterprise Financial Services as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Enterprise Financial Services during the second quarter valued at $235,007,000. Dimensional Fund Advisors LP lifted its stake in Enterprise Financial Services by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,188,766 shares of the bank's stock worth $118,435,000 after purchasing an additional 65,912 shares in the last quarter. PL Capital Advisors LLC boosted its holdings in shares of Enterprise Financial Services by 4.9% during the 4th quarter. PL Capital Advisors LLC now owns 733,329 shares of the bank's stock valued at $39,600,000 after purchasing an additional 34,500 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in shares of Enterprise Financial Services by 0.3% during the 1st quarter. Enterprise Financial Services Corp now owns 332,562 shares of the bank's stock valued at $17,995,000 after purchasing an additional 983 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its position in shares of Enterprise Financial Services by 0.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 234,247 shares of the bank's stock valued at $12,649,000 after purchasing an additional 1,021 shares in the last quarter. Institutional investors own 72.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Raymond James Financial lifted their target price on Enterprise Financial Services from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price target on Enterprise Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Piper Sandler raised their price target on Enterprise Financial Services from $67.00 to $68.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Wall Street Zen downgraded Enterprise Financial Services from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.00.

Enterprise Financial Services Stock Down 0.9%

NASDAQ EFSC opened at $59.85 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. Enterprise Financial Services Corporation has a 52 week low of $51.18 and a 52 week high of $68.73. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 11.90 and a beta of 0.78. The company has a fifty day moving average of $64.70 and a two-hundred day moving average of $61.35.

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

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This is an increase from Enterprise Financial Services's previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a yield of 2.3%. Enterprise Financial Services's payout ratio is 27.83%.

Enterprise Financial Services Profile

Enterprise Financial Services Corp. is a financial holding company headquartered in Clayton, Missouri. Through its principal subsidiary, Enterprise Bank & Trust, the company provides banking and wealth management services to businesses, professionals, individuals and families.

Enterprise Bank & Trust offers commercial and personal deposit accounts, loans, lines of credit, treasury management, cash management, online banking and other financial services. Its commercial banking activities include lending to operating companies, commercial real estate borrowers and small businesses, while its wealth management business provides investment management, trust, financial planning and related services.

Founded in 1990, the company serves clients through banking and wealth management operations in Missouri, Kansas, Arizona and New Mexico.

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