Millennium Management LLC Sells 98,703 Shares of Enterprise Financial Services Corp (NASDAQ:EFSC)

Millennium Management LLC lessened its stake in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 71.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,264 shares of the bank's stock after selling 98,703 shares during the quarter. Millennium Management LLC owned approximately 0.11% of Enterprise Financial Services worth $2,214,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EFSC. New York State Teachers Retirement System bought a new position in Enterprise Financial Services during the fourth quarter valued at $191,000. Crestline Management LP purchased a new position in shares of Enterprise Financial Services during the 4th quarter valued at $203,000. Captrust Financial Advisors bought a new position in shares of Enterprise Financial Services during the 4th quarter worth $204,000. HighTower Advisors LLC purchased a new stake in Enterprise Financial Services in the 4th quarter worth about $212,000. Finally, Summit Investment Advisors Inc. increased its holdings in Enterprise Financial Services by 7.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,873 shares of the bank's stock worth $218,000 after acquiring an additional 265 shares during the last quarter. Institutional investors own 72.21% of the company's stock.

Enterprise Financial Services Stock Performance

Shares of NASDAQ EFSC traded up $0.63 during mid-day trading on Tuesday, hitting $52.84. The company had a trading volume of 181,186 shares, compared to its average volume of 181,682. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.92 and a beta of 0.85. Enterprise Financial Services Corp has a 1 year low of $37.31 and a 1 year high of $63.13. The stock's 50-day moving average price is $51.60 and its 200-day moving average price is $55.83.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.14. Enterprise Financial Services had a net margin of 20.12% and a return on equity of 10.94%. The firm had revenue of $18.48 million for the quarter, compared to analysts' expectations of $162.83 million. On average, sell-side analysts forecast that Enterprise Financial Services Corp will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 2.27%. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.29. Enterprise Financial Services's dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analyst Weigh In

EFSC has been the topic of several recent research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. DA Davidson dropped their price target on shares of Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th.

Insider Activity at Enterprise Financial Services

In related news, CEO James Brian Lally sold 4,689 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $55.18, for a total transaction of $258,739.02. Following the transaction, the chief executive officer now directly owns 106,974 shares of the company's stock, valued at approximately $5,902,825.32. This trade represents a 4.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by 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.