Jennison Associates LLC Raises Holdings in Enterprise Financial Services Corporation (NASDAQ:EFSC)

Jennison Associates LLC lifted its position in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,082 shares of the bank's stock after buying an additional 5,302 shares during the quarter. Jennison Associates LLC owned about 1.55% of Enterprise Financial Services worth $30,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC grew its holdings in shares of Enterprise Financial Services by 83.6% during the first quarter. CWM LLC now owns 1,252 shares of the bank's stock worth $67,000 after purchasing an additional 570 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Enterprise Financial Services during the first quarter worth about $341,000. Principal Financial Group Inc. grew its holdings in shares of Enterprise Financial Services by 11.4% during the first quarter. Principal Financial Group Inc. now owns 19,214 shares of the bank's stock worth $1,033,000 after purchasing an additional 1,962 shares during the last quarter. KBC Group NV bought a new stake in shares of Enterprise Financial Services during the first quarter worth about $117,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Enterprise Financial Services by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,232 shares of the bank's stock worth $334,000 after purchasing an additional 2,182 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on EFSC shares. Wall Street Zen cut Enterprise Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Keefe, Bruyette & Woods reduced their target price on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, DA Davidson reduced their target price on Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th.

Enterprise Financial Services Trading Down 0.9%

EFSC traded down $0.55 during trading on Monday, hitting $58.08. The company's stock had a trading volume of 190,658 shares, compared to its average volume of 187,465. Enterprise Financial Services Corporation has a twelve month low of $45.22 and a twelve month high of $63.13. The stock's fifty day moving average price is $54.62 and its 200-day moving average price is $54.99. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.15 billion, a P/E ratio of 11.39 and a beta of 0.86.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The bank reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.14. The company had revenue of $18.48 million during the quarter, compared to analysts' expectations of $162.83 million. Enterprise Financial Services had a return on equity of 11.14% and a net margin of 20.92%. Analysts anticipate that Enterprise Financial Services Corporation will post 4.97 EPS for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.30 dividend. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.29. The ex-dividend date was Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.07%. Enterprise Financial Services's dividend payout ratio is 23.53%.

Insider Transactions at Enterprise Financial Services

In other news, CEO James Brian Lally sold 4,689 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $55.18, for a total value of $258,739.02. Following the sale, the chief executive officer directly owned 106,974 shares in the company, valued at approximately $5,902,825.32. This represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Finn acquired 1,500 shares of Enterprise Financial Services stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $52.50 per share, for a total transaction of $78,750.00. Following the completion of the acquisition, the director directly owned 1,500 shares in the company, valued at $78,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 8,572 shares of company stock valued at $472,667. Corporate insiders own 2.30% of the company's stock.

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.