Hotchkis & Wiley Capital Management LLC Has $8.68 Million Stock Position in Enterprise Financial Services Corporation $EFSC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its holdings in Enterprise Financial Services by 36%, selling 90,850 shares, leaving them with approximately 161,500 shares worth $8.68 million.
• Enterprise Financial Services reported strong quarterly earnings, achieving $1.37 EPS, surpassing analysts' expectations of $1.20, with total revenue reaching $176.05 million.
• The company announced a dividend increase from $0.30 to $0.31 per share, scheduled for payment to shareholders of record on September 15th, 2023.

Hotchkis & Wiley Capital Management LLC lessened its position in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 36.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,500 shares of the bank's stock after selling 90,850 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.44% of Enterprise Financial Services worth $8,679,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of EFSC. Nuveen LLC acquired a new stake in shares of Enterprise Financial Services in the 1st quarter worth about $22,901,000. Vanguard Group Inc. grew its position in Enterprise Financial Services by 10.8% in the 1st quarter. Vanguard Group Inc. now owns 2,314,377 shares of the bank's stock valued at $124,375,000 after buying an additional 225,369 shares in the last quarter. Nuveen Asset Management LLC grew its position in Enterprise Financial Services by 33.5% in the 4th quarter. Nuveen Asset Management LLC now owns 430,662 shares of the bank's stock valued at $24,289,000 after buying an additional 107,996 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Enterprise Financial Services in the 1st quarter valued at about $4,771,000. Finally, American Century Companies Inc. grew its position in Enterprise Financial Services by 7.5% in the 1st quarter. American Century Companies Inc. now owns 911,911 shares of the bank's stock valued at $49,006,000 after buying an additional 63,972 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Insider Activity

In other news, CEO James Brian Lally sold 1,828 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $55.16, for a total transaction of $100,832.48. Following the completion of the transaction, 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 SEC, which is accessible through this link. Also, Director Michael E. Finn acquired 1,500 shares of Enterprise Financial Services stock in a transaction dated Monday, August 4th. The shares were acquired at an average price of $54.11 per share, with a total value of $81,165.00. Following the transaction, the director owned 3,000 shares in the company, valued at approximately $162,330. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Enterprise Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $64.33.

Enterprise Financial Services Price Performance

Shares of NASDAQ:EFSC traded down $0.41 during trading hours on Friday, hitting $61.24. 157,329 shares of the company's stock traded hands, compared to its average volume of 141,437. Enterprise Financial Services Corporation has a 52 week low of $45.22 and a 52 week high of $63.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.88. The company's fifty day simple moving average is $56.99 and its two-hundred day simple moving average is $54.82. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 11.62 and a beta of 0.90.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.17. Enterprise Financial Services had a net margin of 21.28% and a return on equity of 11.19%. The company had revenue of $176.05 million during the quarter, compared to analyst estimates of $166.82 million. As a group, equities analysts anticipate that Enterprise Financial Services Corporation will post 4.97 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.31 per share. This is a positive change 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 dividend yield of 2.0%. Enterprise Financial Services's payout ratio is 22.77%.

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.