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

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Enterprise Financial Services in the first quarter valued at approximately $28,000. Summit Securities Group LLC bought a new position in Enterprise Financial Services in the 1st quarter worth approximately $32,000. Versant Capital Management Inc raised its position in Enterprise Financial Services by 51.7% in the 1st quarter. Versant Capital Management Inc now owns 775 shares of the bank's stock worth $42,000 after purchasing an additional 264 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Enterprise Financial Services by 302.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 793 shares of the bank's stock worth $43,000 after purchasing an additional 596 shares during the last quarter. Finally, USA Financial Formulas bought a new position in Enterprise Financial Services in the 1st quarter worth approximately $50,000. Institutional investors own 72.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. 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. Finally, DA Davidson dropped their price objective on shares of Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Enterprise Financial Services presently has a consensus rating of "Buy" and an average price target of $64.33.

Enterprise Financial Services Trading Down 0.0%

Shares of EFSC stock traded down $0.03 on Thursday, hitting $61.65. The stock had a trading volume of 132,957 shares, compared to its average volume of 197,692. Enterprise Financial Services Corporation has a twelve month low of $45.22 and a twelve month high of $63.13. The firm has a market cap of $2.28 billion, a P/E ratio of 11.70 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $56.64 and a two-hundred day moving average price of $54.86.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The bank reported $1.37 earnings per share (EPS) 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, analysts forecast that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.30. Enterprise Financial Services's dividend payout ratio (DPR) is currently 22.77%.

Insiders Place Their Bets

In related news, CEO James Brian Lally sold 1,828 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $55.16, for a total value of $100,832.48. Following the completion of the transaction, the chief executive officer directly owned 100,885 shares of the company's stock, valued at approximately $5,564,816.60. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Finn bought 1,500 shares of Enterprise Financial Services stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average cost of $54.11 per share, with a total value of $81,165.00. Following the completion of the purchase, the director owned 3,000 shares in the company, valued at approximately $162,330. This trade represents a 100.00% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

Enterprise Financial Services Company 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.