Enterprise Financial Services Corporation $EFSC Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Enterprise Financial Services Corporation by 11.9%, owning approximately $26.25 million worth of shares as of its most recent SEC filing.
• Enterprise Financial Services recently raised its quarterly dividend to $0.31 per share, reflecting an annualized yield of 2.2%, up from the previous dividend of $0.30.
• The company reported a strong quarterly performance with earnings of $1.37 EPS, surpassing analysts' estimates, and a revenue of $176.05 million for the quarter.

Charles Schwab Investment Management Inc. boosted its holdings in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 11.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 488,546 shares of the bank's stock after purchasing an additional 51,878 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.32% of Enterprise Financial Services worth $26,254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Enterprise Financial Services by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,314,377 shares of the bank's stock worth $124,375,000 after purchasing an additional 225,369 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Enterprise Financial Services by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,215,368 shares of the bank's stock valued at $124,947,000 after purchasing an additional 54,987 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Enterprise Financial Services by 0.9% during the 1st quarter. Jennison Associates LLC now owns 572,082 shares of the bank's stock valued at $30,744,000 after purchasing an additional 5,302 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Enterprise Financial Services by 33.5% during the 4th quarter. Nuveen Asset Management LLC now owns 430,662 shares of the bank's stock valued at $24,289,000 after purchasing an additional 107,996 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Enterprise Financial Services by 4.7% during the 4th quarter. Northern Trust Corp now owns 380,133 shares of the bank's stock valued at $21,440,000 after purchasing an additional 17,185 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Insider Buying and Selling at Enterprise Financial Services

In other Enterprise Financial Services news, CEO James Brian Lally sold 1,828 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $55.16, for a total transaction of $100,832.48. Following the transaction, the chief executive officer directly owned 100,885 shares in the company, valued at $5,564,816.60. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael E. Finn acquired 1,500 shares of Enterprise Financial Services stock in a transaction on Monday, August 4th. The shares were purchased at an average price of $54.11 per share, for a total transaction of $81,165.00. Following the completion of the acquisition, the director directly owned 3,000 shares in the company, valued at $162,330. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company's stock.

Analyst Ratings Changes

EFSC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. DA Davidson cut their price target on Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Enterprise Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $64.33.

Enterprise Financial Services Stock Performance

EFSC traded down $0.2190 during midday trading on Monday, reaching $60.2910. The company had a trading volume of 48,250 shares, compared to its average volume of 198,179. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $56.11 and a two-hundred day moving average of $54.77. The company has a market cap of $2.23 billion, a P/E ratio of 11.46 and a beta of 0.90. Enterprise Financial Services Corporation has a 1 year low of $45.22 and a 1 year high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.17. Enterprise Financial Services had a return on equity of 11.19% and a net margin of 21.28%.The business had revenue of $176.05 million during the quarter, compared to analysts' expectations of $166.82 million. As a group, equities research analysts predict that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, September 15th. This is an increase from Enterprise Financial Services's previous quarterly dividend of $0.30. Enterprise Financial Services's dividend payout ratio (DPR) is 22.77%.

Enterprise Financial Services Profile

Enterprise Financial Services Corp operates as the holding company for Enterprise Bank & Trust that offers banking and wealth management services to individuals and corporate customers primarily in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico. It provides checking, savings, money market accounts, and certificates of deposit.