Enterprise Financial Services Corporation $EFSC Shares Sold by Earnest Partners LLC

Key Points

• Earnest Partners LLC reduced its stake in Enterprise Financial Services Corporation by 1.9%, now holding approximately 5.00% of the company's shares worth $99.3 million.
• Enterprise Financial Services announced an increase in its quarterly dividend from $0.30 to $0.31, resulting in a 2.0% yield for investors.
• The company reported earnings of $1.37 per share, exceeding analysts' expectations, with a consensus target price now at $64.33.

Earnest Partners LLC cut its holdings in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,848,381 shares of the bank's stock after selling 34,974 shares during the period. Earnest Partners LLC owned approximately 5.00% of Enterprise Financial Services worth $99,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in Enterprise Financial Services by 51.7% in the 1st quarter. Versant Capital Management Inc now owns 775 shares of the bank's stock valued at $42,000 after buying an additional 264 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Enterprise Financial Services by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,640 shares of the bank's stock valued at $411,000 after buying an additional 302 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Enterprise Financial Services in the 1st quarter valued at about $28,000. CWM LLC lifted its stake in Enterprise Financial Services by 83.6% in the 1st quarter. CWM LLC now owns 1,252 shares of the bank's stock valued at $67,000 after buying an additional 570 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Enterprise Financial Services in the 1st quarter valued at about $32,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EFSC has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price target on shares of 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. Wall Street Zen raised shares of Enterprise Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, DA Davidson decreased their price target on shares of Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $64.33.

Enterprise Financial Services Stock Up 1.5%

Shares of NASDAQ EFSC opened at $61.05 on Wednesday. The company has a 50 day simple moving average of $56.46 and a 200-day simple moving average of $54.81. The company has a market capitalization of $2.26 billion, a P/E ratio of 11.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.88 and a quick ratio of 0.88. 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 announced its quarterly earnings results on Monday, July 28th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.17. The business had revenue of $176.05 million during the quarter, compared to the consensus estimate of $166.82 million. Enterprise Financial Services had a net margin of 21.28% and a return on equity of 11.19%. On average, equities research analysts predict that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.31 dividend. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.30. The ex-dividend date is Monday, September 15th. This represents a $1.24 annualized dividend and a yield of 2.0%. Enterprise Financial Services's payout ratio is 23.53%.

Insider Activity at Enterprise Financial Services

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

About Enterprise Financial Services

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.

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