Enterprise Financial Services Corporation $EFSC Stock Holdings Lessened by William Blair Investment Management LLC

Key Points

• William Blair Investment Management LLC has reduced its stake in Enterprise Financial Services Corporation by 7.6%, owning 613,019 shares valued at approximately $33.8 million.
• The company has declared a quarterly dividend of $0.31 per share, representing a boost from the previous dividend of $0.30 and resulting in a 2.3% dividend yield.
• Enterprise Financial Services reported $1.37 EPS for the last quarter, exceeding analyst expectations of $1.20, with a revenue of $176.05 million.

William Blair Investment Management LLC trimmed its stake in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 613,019 shares of the bank's stock after selling 50,627 shares during the quarter. William Blair Investment Management LLC owned 1.66% of Enterprise Financial Services worth $33,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted 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 in the last quarter. American Century Companies Inc. increased its holdings in Enterprise Financial Services by 7.5% in the first quarter. American Century Companies Inc. now owns 911,911 shares of the bank's stock worth $49,006,000 after buying an additional 63,972 shares during the last quarter. Jennison Associates LLC increased its holdings in Enterprise Financial Services by 0.9% in the first quarter. Jennison Associates LLC now owns 572,082 shares of the bank's stock worth $30,744,000 after buying an additional 5,302 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Enterprise Financial Services by 11.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 488,546 shares of the bank's stock worth $26,254,000 after buying an additional 51,878 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Enterprise Financial Services in the first quarter worth approximately $22,901,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Enterprise Financial Services Stock Up 0.1%

Shares of NASDAQ EFSC opened at $53.12 on Friday. Enterprise Financial Services Corporation has a one year low of $45.22 and a one year high of $63.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.88 and a quick ratio of 0.88. The business's fifty day moving average price is $58.66 and its 200-day moving average price is $55.22. The stock has a market capitalization of $1.96 billion, a PE ratio of 10.08 and a beta of 0.88.

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, beating 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 firm had revenue of $176.05 million for the quarter, compared to analysts' expectations of $166.82 million. On average, equities research analysts anticipate that Enterprise Financial Services Corporation will post 4.97 EPS for the current year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.30. Enterprise Financial Services's payout ratio is currently 23.53%.

Insider Activity at Enterprise Financial Services

In other news, Director Michael E. Finn purchased 1,500 shares of the company's stock in a transaction dated Monday, August 4th. The shares were purchased at an average price of $54.11 per share, with a total value of $81,165.00. Following the transaction, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EFSC has been the topic of a number of research reports. Wall Street Zen upgraded Enterprise Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler initiated coverage on Enterprise Financial Services in a report on Wednesday. They issued a "neutral" rating and a $64.00 price objective on the stock. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Enterprise Financial Services in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $65.00.

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.

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