Nuveen LLC bought a new stake in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 426,142 shares of the bank's stock, valued at approximately $22,901,000. Nuveen LLC owned 1.15% of Enterprise Financial Services at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EFSC. Vanguard Group Inc. raised its stake in Enterprise Financial Services by 10.8% during the 1st quarter. Vanguard Group Inc. now owns 2,314,377 shares of the bank's stock valued at $124,375,000 after purchasing an additional 225,369 shares during the period. Raymond James Financial Inc. bought a new stake in Enterprise Financial Services in the 4th quarter worth approximately $7,556,000. Nuveen Asset Management LLC increased its stake 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 worth $24,289,000 after acquiring an additional 107,996 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Enterprise Financial Services in the 1st quarter worth approximately $4,771,000. Finally, Vest Financial LLC bought a new stake in Enterprise Financial Services in the 1st quarter worth approximately $3,423,000. Institutional investors own 72.21% of the company's stock.
Insider Buying and Selling
In related news, CEO James Brian Lally sold 1,828 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 100,885 shares in the company, valued at $5,564,816.60. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Finn acquired 1,500 shares of the company's stock in a transaction that occurred on 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 acquisition, the director owned 3,000 shares in the company, valued at $162,330. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.
Enterprise Financial Services Trading Up 5.2%
Shares of Enterprise Financial Services stock traded up $3.01 on Friday, reaching $60.51. The company had a trading volume of 206,384 shares, compared to its average volume of 148,789. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 11.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.88 and a quick ratio of 0.88. The firm's 50-day moving average price is $56.11 and its two-hundred day moving average price is $54.82. Enterprise Financial Services Corporation has a 1 year low of $45.22 and a 1 year high of $63.13.
Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its earnings results on Monday, July 28th. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.17. The firm had revenue of $176.05 million during the quarter, compared to analysts' expectations of $166.82 million. Enterprise Financial Services had a return on equity of 11.19% and a net margin of 21.28%. As a group, research analysts predict 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. Stockholders of record on Monday, September 15th will be issued a $0.31 dividend. 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 dividend on an annualized basis and a dividend yield of 2.0%. Enterprise Financial Services's dividend payout ratio (DPR) is presently 22.77%.
Analyst Upgrades and Downgrades
EFSC has been the topic of a number of research reports. DA Davidson reduced their price objective on 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. Wall Street Zen raised Enterprise Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods reduced their price objective on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $64.33.
Check Out Our Latest Report on EFSC
Enterprise Financial Services Company Profile
(
Free Report)
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.
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