Russell Investments Group Ltd. Raises Position in Enterprise Financial Services Corporation $EFSC

Key Points

• Russell Investments Group Ltd. increased its stake in Enterprise Financial Services Corporation by 5.9%, acquiring an additional 5,002 shares, bringing its total ownership to approximately 0.24% valued at $4.85 million.
• Enterprise Financial Services recently reported a quarterly earnings of $1.37 per share, exceeding analysts' expectations, with revenues of $176.05 million for the quarter.
• The company plans to increase its quarterly dividend from $0.30 to $0.31 per share, reflecting a positive change in its dividend policy and a yield of 2.2%.

Russell Investments Group Ltd. grew its holdings in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 5.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,337 shares of the bank's stock after purchasing an additional 5,002 shares during the quarter. Russell Investments Group Ltd. owned about 0.24% of Enterprise Financial Services worth $4,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Enterprise Financial Services during the first quarter worth about $28,000. Versant Capital Management Inc boosted its position in Enterprise Financial Services by 51.7% during the first 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 period. PNC Financial Services Group Inc. boosted its position in 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 during the period. USA Financial Formulas bought a new position in Enterprise Financial Services during the first quarter worth about $50,000. Finally, CWM LLC boosted its position in Enterprise Financial Services by 83.6% during the first quarter. CWM LLC now owns 1,252 shares of the bank's stock worth $67,000 after purchasing an additional 570 shares during the period. Institutional investors own 72.21% of the company's stock.

Insider Activity at Enterprise Financial Services

In other news, CEO James Brian Lally sold 1,828 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was 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 in the company, valued at approximately $5,564,816.60. This represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E. Finn acquired 1,500 shares of the business's stock in a transaction dated Monday, August 4th. The stock was purchased at an average price of $54.11 per share, with a total value of $81,165.00. Following the completion of the acquisition, the director directly owned 3,000 shares in the company, valued at approximately $162,330. This represents a 100.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.20% of the company's stock.

Enterprise Financial Services Price Performance

Shares of EFSC stock traded down $0.35 during trading on Monday, hitting $60.16. The company had a trading volume of 139,325 shares, compared to its average volume of 198,763. Enterprise Financial Services Corporation has a 52 week low of $45.22 and a 52 week high of $63.13. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 11.42 and a beta of 0.90. 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 stock's 50-day moving average is $56.11 and its two-hundred day moving average is $54.77.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last announced its 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 business had revenue of $176.05 million during the quarter, compared to analyst estimates of $166.82 million. As a group, analysts predict 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 given a dividend of $0.31 per share. The ex-dividend date is Monday, September 15th. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 2.1%. Enterprise Financial Services's dividend payout ratio (DPR) is presently 22.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. 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. DA Davidson decreased their price target on Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their price target on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Enterprise Financial Services presently has an average rating of "Buy" and an average target price of $64.33.

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.