Voloridge Investment Management LLC lowered its stake in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 88.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,675 shares of the bank's stock after selling 28,737 shares during the period. Voloridge Investment Management LLC's holdings in Enterprise Financial Services were worth $207,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System bought a new stake in Enterprise Financial Services during the fourth quarter worth $191,000. Crestline Management LP acquired a new position in shares of Enterprise Financial Services in the fourth quarter valued at about $203,000. Captrust Financial Advisors acquired a new stake in shares of Enterprise Financial Services in the fourth quarter valued at approximately $204,000. HighTower Advisors LLC bought a new stake in shares of Enterprise Financial Services during the 4th quarter valued at $212,000. Finally, Summit Investment Advisors Inc. grew its stake in Enterprise Financial Services by 7.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,873 shares of the bank's stock worth $218,000 after buying an additional 265 shares in the last quarter. Institutional investors own 72.21% of the company's stock.
Insider Transactions at Enterprise Financial Services
In other news, CEO James Brian Lally sold 4,689 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $55.18, for a total value of $258,739.02. Following the transaction, the chief executive officer now directly owns 106,974 shares in the company, valued at approximately $5,902,825.32. This represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company's stock.
Analysts Set New Price Targets
EFSC has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price objective on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. DA Davidson decreased their price objective on Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, April 30th.
View Our Latest Research Report on EFSC
Enterprise Financial Services Trading Down 1.8%
Shares of NASDAQ EFSC traded down $0.93 during midday trading on Wednesday, reaching $51.91. The company had a trading volume of 141,965 shares, compared to its average volume of 182,440. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. Enterprise Financial Services Corp has a one year low of $37.31 and a one year high of $63.13. The firm's fifty day moving average price is $51.51 and its 200-day moving average price is $55.78. The stock has a market cap of $1.92 billion, a PE ratio of 10.73 and a beta of 0.85.
Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.14. Enterprise Financial Services had a return on equity of 10.94% and a net margin of 20.12%. The company had revenue of $18.48 million for the quarter, compared to analysts' expectations of $162.83 million. On average, equities research analysts anticipate that Enterprise Financial Services Corp will post 4.97 earnings per share for the current year.
Enterprise Financial Services Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 2.31%. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.29. Enterprise Financial Services's dividend payout ratio (DPR) is currently 23.53%.
About Enterprise Financial Services
(
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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