The Manufacturers Life Insurance Company Makes New Investment in Enterprise Financial Services Corporation $EFSC

Key Points

• The Manufacturers Life Insurance Company acquired 18,779 shares of Enterprise Financial Services in the second quarter, worth approximately $1.24 million. Institutional investors collectively own 72.21% of EFSC’s outstanding shares.
• Enterprise Financial Services reported quarterly EPS of $1.13, below the $1.33 consensus estimate, while revenue of $187.37 million also fell slightly short of expectations.
• The company increased its quarterly dividend from $0.34 to $0.35 per share, representing an annualized dividend of $1.40 and a 2.2% yield. Analysts maintain a “Moderate Buy” consensus rating with a $70 average price target.

The Manufacturers Life Insurance Company acquired a new stake in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,779 shares of the bank's stock, valued at approximately $1,237,000. The Manufacturers Life Insurance Company owned 0.05% of Enterprise Financial Services as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in Enterprise Financial Services by 929.0% during the second quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank's stock valued at $35,000 after acquiring an additional 576 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Enterprise Financial Services in the 2nd quarter worth approximately $60,000. Kestra Advisory Services LLC purchased a new stake in Enterprise Financial Services in the 4th quarter worth approximately $99,000. Fifth Third Bancorp acquired a new stake in shares of Enterprise Financial Services during the 1st quarter worth approximately $109,000. Finally, Comerica Bank grew its stake in shares of Enterprise Financial Services by 17.4% during the 3rd quarter. Comerica Bank now owns 2,041 shares of the bank's stock worth $118,000 after purchasing an additional 303 shares during the period. Hedge funds and other institutional investors own 72.21% of the company's stock.

Enterprise Financial Services Stock Performance

Shares of NASDAQ:EFSC opened at $64.66 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85. Enterprise Financial Services Corporation has a 1 year low of $51.18 and a 1 year high of $68.73. The firm has a market capitalization of $2.34 billion, a PE ratio of 12.85 and a beta of 0.78. The business's 50 day moving average price is $65.48 and its 200-day moving average price is $60.98.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.13 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.20). Enterprise Financial Services had a net margin of 18.72% and a return on equity of 9.70%. The firm had revenue of $187.37 million during the quarter, compared to analyst estimates of $189.15 million. As a group, equities research analysts expect that Enterprise Financial Services Corporation will post 5.31 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 15th. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 2.2%. Enterprise Financial Services's dividend payout ratio (DPR) is presently 27.04%.

Wall Street Analysts Forecast Growth

EFSC has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Enterprise Financial Services in a research note on Friday, July 10th. Wall Street Zen raised shares of Enterprise Financial Services from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler upped their price objective on shares of Enterprise Financial Services from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods increased their target price on shares of Enterprise Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, Raymond James Financial lifted their price target on Enterprise Financial Services from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.00.

Enterprise Financial Services Profile

Enterprise Financial Services Corp. NASDAQ: EFSC is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.

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