Jennison Associates LLC Increases Position in Enterprise Financial Services Corporation (NASDAQ:EFSC)

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

Several other institutional investors and hedge funds also recently bought and sold shares of EFSC. Proficio Capital Partners LLC purchased a new stake in shares of Enterprise Financial Services in the fourth quarter worth about $818,000. Raymond James Financial Inc. bought a new position in shares of Enterprise Financial Services during the fourth quarter valued at approximately $7,556,000. HighTower Advisors LLC bought a new position in Enterprise Financial Services in the fourth quarter worth approximately $212,000. Intech Investment Management LLC grew its stake in Enterprise Financial Services by 196.7% in the fourth quarter. Intech Investment Management LLC now owns 17,173 shares of the bank's stock worth $969,000 after purchasing an additional 11,385 shares in the last quarter. Finally, Boston Partners grew its stake in Enterprise Financial Services by 145.9% in the fourth quarter. Boston Partners now owns 43,275 shares of the bank's stock worth $2,441,000 after purchasing an additional 25,678 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Enterprise Financial Services news, CEO James Brian Lally sold 1,828 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 100,885 shares in the company, valued at approximately $5,564,816.60. The trade was a 1.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Finn acquired 1,500 shares of the business's stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $52.50 per share, with a total value of $78,750.00. Following the completion of the purchase, the director owned 1,500 shares in the company, valued at $78,750. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 8,572 shares of company stock worth $472,667. 2.20% of the stock is currently owned by insiders.

Enterprise Financial Services Stock Performance

EFSC traded down $0.10 during midday trading on Wednesday, hitting $57.51. 19,496 shares of the company were exchanged, compared to its average volume of 186,748. Enterprise Financial Services Corporation has a 1-year low of $45.22 and a 1-year high of $63.13. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 11.29 and a beta of 0.86. The company's 50 day simple moving average is $54.75 and its 200 day simple moving average is $55.02.

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

Enterprise Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.30 per share. The ex-dividend date was Monday, June 16th. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. Enterprise Financial Services's dividend payout ratio (DPR) is 23.53%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. DA Davidson lowered their target price on Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Keefe, Bruyette & Woods decreased their price objective on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen lowered Enterprise Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, June 7th.

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.