Fisher Asset Management LLC Lowers Stock Holdings in Enterprise Financial Services Corporation $EFSC

Key Points

• Fisher Asset Management reduced its stake in Enterprise Financial Services by 17.2% in the fourth quarter, selling 27,705 shares and leaving it with 133,166 shares valued at about $7.19 million.
• Analyst sentiment remains positive overall, with four analysts rating EFSC a Buy and one a Hold; the consensus target price is $66, slightly above the stock’s recent trading level.
• Enterprise Financial Services reported EPS of $1.31, beat expectations by a penny, and raised its quarterly dividend to $0.34 per share, implying a 2.3% yield.

Fisher Asset Management LLC trimmed its position in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 17.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,166 shares of the bank's stock after selling 27,705 shares during the quarter. Fisher Asset Management LLC owned 0.36% of Enterprise Financial Services worth $7,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EFSC. EverSource Wealth Advisors LLC boosted its holdings in Enterprise Financial Services by 929.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank's stock valued at $35,000 after acquiring an additional 576 shares during the period. First Horizon Corp boosted its holdings in Enterprise Financial Services by 55.6% during the 4th quarter. First Horizon Corp now owns 708 shares of the bank's stock valued at $38,000 after acquiring an additional 253 shares during the period. Signaturefd LLC boosted its holdings in Enterprise Financial Services by 65.0% during the 4th quarter. Signaturefd LLC now owns 812 shares of the bank's stock valued at $44,000 after acquiring an additional 320 shares during the period. Comerica Bank boosted its holdings in Enterprise Financial Services by 17.4% during the 3rd quarter. Comerica Bank now owns 2,041 shares of the bank's stock valued at $118,000 after acquiring an additional 303 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Enterprise Financial Services by 106.0% during the 2nd quarter. Federated Hermes Inc. now owns 2,182 shares of the bank's stock valued at $120,000 after acquiring an additional 1,123 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Enterprise Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, May 23rd. Weiss Ratings raised Enterprise Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Raymond James Financial assumed coverage on Enterprise Financial Services in a research report on Tuesday, April 28th. They issued an "outperform" rating and a $65.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price target on Enterprise Financial Services from $66.00 to $67.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Enterprise Financial Services presently has an average rating of "Moderate Buy" and a consensus price target of $66.00.

Insider Buying and Selling

In other Enterprise Financial Services news, EVP Mark G. Ponder sold 1,250 shares of Enterprise Financial Services stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $60.55, for a total transaction of $75,687.50. Following the transaction, the executive vice president owned 23,526 shares of the company's stock, valued at $1,424,499.30. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.

Enterprise Financial Services Price Performance

Shares of NASDAQ EFSC opened at $60.28 on Friday. The firm has a market capitalization of $2.21 billion, a PE ratio of 11.37 and a beta of 0.79. Enterprise Financial Services Corporation has a fifty-two week low of $51.18 and a fifty-two week high of $62.30. The stock's 50-day simple moving average is $57.59 and its 200-day simple moving average is $56.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.84.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $1.31 EPS for the quarter, topping the consensus estimate of $1.30 by $0.01. The company had revenue of $113.74 million for the quarter, compared to analyst estimates of $174.02 million. Enterprise Financial Services had a return on equity of 10.35% and a net margin of 19.81%. As a group, equities research analysts forecast that Enterprise Financial Services Corporation will post 5.55 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.3%. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, June 15th. Enterprise Financial Services's dividend payout ratio is presently 24.91%.

Enterprise Financial Services Company Profile

Enterprise Financial Services Corp. NASDAQ: EFSC is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.

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