Raymond James Financial Inc. Sells 7,743 Shares of Enterprise Financial Services Corporation $EFSC

Raymond James Financial Inc. cut its holdings in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,232 shares of the bank's stock after selling 7,743 shares during the period. Raymond James Financial Inc. owned about 0.34% of Enterprise Financial Services worth $6,784,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of 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 purchasing an additional 63,972 shares during the period. Boston Partners increased its position in shares of Enterprise Financial Services by 3.2% in the 1st quarter. Boston Partners now owns 44,649 shares of the bank's stock valued at $2,399,000 after buying an additional 1,374 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Enterprise Financial Services by 5.9% during the 1st quarter. Russell Investments Group Ltd. now owns 90,337 shares of the bank's stock worth $4,855,000 after purchasing an additional 5,002 shares in the last quarter. Nuveen LLC bought a new position in Enterprise Financial Services during the 1st quarter worth about $22,901,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enterprise Financial Services by 14.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,505 shares of the bank's stock worth $1,424,000 after purchasing an additional 3,282 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

Enterprise Financial Services Price Performance

Shares of NASDAQ EFSC traded down $0.51 during midday trading on Friday, reaching $60.67. The company's stock had a trading volume of 139,341 shares, compared to its average volume of 126,901. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 0.88. Enterprise Financial Services Corporation has a fifty-two week low of $45.22 and a fifty-two week high of $63.13. The business's 50 day moving average price is $57.57 and its two-hundred day moving average price is $54.86. The company has a market cap of $2.24 billion, a P/E ratio of 11.51 and a beta of 0.92.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The bank reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.17. The company had revenue of $176.05 million during the quarter, compared to the consensus estimate of $166.82 million. Enterprise Financial Services had a net margin of 21.28% and a return on equity of 11.19%. On average, analysts forecast that Enterprise Financial Services Corporation will post 4.97 EPS 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. Shareholders of record on Monday, September 15th will be paid a dividend of $0.31 per share. 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. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.0%. Enterprise Financial Services's payout ratio is presently 23.53%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CEO James Brian Lally sold 1,828 shares of the business'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 sale, the chief executive officer owned 100,885 shares of the company's stock, valued at $5,564,816.60. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael E. Finn acquired 1,500 shares of Enterprise Financial Services stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average cost of $54.11 per share, for a total transaction of $81,165.00. Following the purchase, the director owned 3,000 shares of the company's stock, valued at $162,330. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.30% of the company's stock.

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.