Bank of New York Mellon Corp Invests $11.41 Million in Enterprise Financial Services Corporation $EFSC

Key Points

• Bank of New York Mellon acquired a new $11.41 million stake in Enterprise Financial Services, purchasing 173,266 shares and owning approximately 0.48% of the company. Institutional investors collectively hold 72.21% of EFSC shares.
• EFSC shares opened at $62.80, down 0.7%, after the bank reported quarterly earnings of $1.13 per share—below analysts’ $1.33 estimate. Analysts nonetheless maintain a “Moderate Buy” consensus rating with an average price target of $70.
• Enterprise Financial Services raised its quarterly dividend to $0.35 per share from $0.34, representing an annualized dividend of $1.40 and a 2.2% yield.

Bank of New York Mellon Corp acquired a new stake in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 173,266 shares of the bank's stock, valued at approximately $11,415,000. Bank of New York Mellon Corp owned approximately 0.48% of Enterprise Financial Services as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EFSC. Northwestern Mutual Wealth Management Co. raised its position in shares of Enterprise Financial Services by 3,318.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 28,472 shares of the bank's stock worth $1,537,000 after purchasing an additional 27,639 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Enterprise Financial Services by 2.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 995,541 shares of the bank's stock worth $53,759,000 after buying an additional 26,008 shares during the last quarter. AlphaQuest LLC boosted its holdings in Enterprise Financial Services by 250.1% in the 4th quarter. AlphaQuest LLC now owns 49,847 shares of the bank's stock worth $2,692,000 after buying an additional 35,611 shares during the last quarter. Endeavour Capital Advisors Inc. increased its stake in Enterprise Financial Services by 109.8% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 185,240 shares of the bank's stock worth $10,003,000 after buying an additional 96,926 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Enterprise Financial Services by 5.7% during the 1st quarter. Bank of America Corp DE now owns 397,357 shares of the bank's stock worth $21,501,000 after buying an additional 21,269 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Enterprise Financial Services Trading Down 0.7%

Shares of EFSC stock opened at $62.80 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 twelve month low of $51.18 and a twelve month high of $68.73. The company's 50-day moving average price is $65.58 and its 200-day moving average price is $60.91. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 12.49 and a beta of 0.79.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.20). Enterprise Financial Services had a net margin of 18.72% and a return on equity of 9.70%. The firm had revenue of $187.37 million during the quarter, compared to analyst estimates of $189.15 million. As a group, equities analysts predict 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. Investors of record on Tuesday, September 15th will be issued a $0.35 dividend. 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 2.2%. The ex-dividend date is Tuesday, September 15th. Enterprise Financial Services's payout ratio is currently 27.04%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EFSC shares. Weiss Ratings restated a "buy (b)" rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of Enterprise Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Piper Sandler upped their price objective on shares of Enterprise Financial Services from $67.00 to $68.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Raymond James Financial increased their price objective on shares of Enterprise Financial Services from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Finally, Wall Street Zen cut Enterprise Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Enterprise Financial Services presently has an average rating of "Moderate Buy" and an average price target of $70.00.

Enterprise Financial Services 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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