Enterprise Financial Services Corporation $EFSC Shares Bought by Plancorp LLC

Key Points

• Plancorp LLC increased its ownership in Enterprise Financial Services Corporation (EFSC) by 65% in Q1, holding 97,466 shares valued at approximately $5.24 million.
• The company declared a quarterly dividend of $0.31 per share, marking an increase from the previous $0.30 and representing a yield of 2.0%.
• Analysts have upgraded the stock's rating from “sell” to “hold”, with a consensus price target of $64.33 and three analysts rating it as a buy.

Plancorp LLC grew its position in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 65.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,466 shares of the bank's stock after acquiring an additional 38,406 shares during the period. Plancorp LLC owned about 0.26% of Enterprise Financial Services worth $5,238,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Enterprise Financial Services in the first quarter worth about $28,000. Summit Securities Group LLC acquired a new position in shares of Enterprise Financial Services in the first quarter worth about $32,000. Versant Capital Management Inc raised its position in shares of Enterprise Financial Services by 51.7% in the first quarter. Versant Capital Management Inc now owns 775 shares of the bank's stock worth $42,000 after acquiring an additional 264 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Enterprise Financial Services by 302.5% during the first quarter. PNC Financial Services Group Inc. now owns 793 shares of the bank's stock worth $43,000 after purchasing an additional 596 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Enterprise Financial Services during the first quarter worth about $50,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Enterprise Financial Services

In related news, Director Michael E. Finn acquired 1,500 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were purchased at an average cost of $54.11 per share, for a total transaction of $81,165.00. Following the acquisition, the director owned 3,000 shares in the company, valued at $162,330. The trade was a 100.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Brian Lally sold 1,828 shares of the company's stock in a transaction that occurred 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 approximately $5,564,816.60. This represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

Enterprise Financial Services Trading Down 0.6%

Shares of Enterprise Financial Services stock traded down $0.35 during mid-day trading on Thursday, hitting $61.00. The stock had a trading volume of 46,913 shares, compared to its average volume of 194,935. The firm has a 50-day moving average of $57.89 and a two-hundred day moving average of $54.87. Enterprise Financial Services Corporation has a 12-month low of $45.22 and a 12-month high of $63.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.26 billion, a P/E ratio of 11.57 and a beta of 0.92.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $176.05 million during the quarter, compared to analysts' expectations of $166.82 million. Sell-side analysts forecast that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, September 15th. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. This is an increase from Enterprise Financial Services's previous quarterly dividend of $0.30. Enterprise Financial Services's dividend payout ratio (DPR) is currently 22.77%.

Enterprise Financial Services 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.