BlackRock Inc. Takes $235.01 Million Position in Enterprise Financial Services Corporation $EFSC

BlackRock Inc. acquired a new stake in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,567,204 shares of the bank's stock, valued at approximately $235,007,000. BlackRock Inc. owned 9.86% of Enterprise Financial Services at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Enterprise Financial Services by 929.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank's stock valued at $35,000 after acquiring an additional 576 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Enterprise Financial Services in the fourth quarter valued at approximately $99,000. Fifth Third Bancorp purchased a new position in shares of Enterprise Financial Services in the first quarter valued at approximately $109,000. Comerica Bank grew its holdings in shares of Enterprise Financial Services by 17.4% in the third quarter. Comerica Bank now owns 2,041 shares of the bank's stock valued at $118,000 after purchasing an additional 303 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Enterprise Financial Services by 106.0% in the second quarter. Federated Hermes Inc. now owns 2,182 shares of the bank's stock valued at $120,000 after purchasing an additional 1,123 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of 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 research note on Friday, July 10th. Raymond James Financial upped 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. Wall Street Zen cut Enterprise Financial Services from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Finally, Keefe, Bruyette & Woods lifted their target price on Enterprise Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

Enterprise Financial Services Trading Up 0.2%

Shares of Enterprise Financial Services stock opened at $63.50 on Friday. The company has a fifty day simple moving average of $65.59 and a 200-day simple moving average of $60.83. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 12.62 and a beta of 0.79. Enterprise Financial Services Corporation has a 12-month low of $51.18 and a 12-month high of $68.73. 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 (NASDAQ:EFSC - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $1.33 by ($0.20). The firm had revenue of $187.37 million for the quarter, compared to analyst estimates of $189.15 million. Enterprise Financial Services had a return on equity of 9.70% and a net margin of 18.72%. On average, equities analysts forecast that Enterprise Financial Services Corporation will post 5.31 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The firm 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. 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 dividend payout ratio (DPR) is presently 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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