Wellington Management Group LLP Decreases Stock Holdings in Enterprise Financial Services Corporation $EFSC

Key Points

• Wellington Management reduced its Enterprise Financial Services stake by 10.5% in the second quarter, selling 340,594 shares and retaining approximately 8.04% of EFSC, valued at $191.7 million. Institutional investors collectively own 72.21% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $70.00. Four analysts rate the stock Buy, while one rates it Hold.
• EFSC reported quarterly EPS of $1.13, below the $1.33 consensus estimate, while revenue of $187.37 million also slightly missed expectations. The company raised its quarterly dividend to $0.35 per share, implying a 2.2% yield.

Wellington Management Group LLP lowered its holdings in Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,909,537 shares of the bank's stock after selling 340,594 shares during the period. Wellington Management Group LLP owned about 8.04% of Enterprise Financial Services worth $191,680,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Enterprise Financial Services during the 2nd quarter worth $235,007,000. Vanguard Group Inc. grew its position in Enterprise Financial Services by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,371,519 shares of the bank's stock valued at $128,062,000 after buying an additional 13,956 shares during the period. Dimensional Fund Advisors LP increased its holdings in Enterprise Financial Services by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,188,766 shares of the bank's stock worth $118,435,000 after buying an additional 65,912 shares during the last quarter. First Trust Advisors LP raised its position in Enterprise Financial Services by 6.0% in the fourth quarter. First Trust Advisors LP now owns 1,471,244 shares of the bank's stock worth $79,447,000 after acquiring an additional 83,626 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Enterprise Financial Services by 2.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 995,541 shares of the bank's stock worth $53,759,000 after acquiring an additional 26,008 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EFSC has been the subject of several research analyst reports. Raymond James Financial raised their price target on shares of Enterprise Financial Services from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Wall Street Zen lowered Enterprise Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Keefe, Bruyette & Woods raised their target price on Enterprise Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Piper Sandler boosted their target price on Enterprise Financial Services from $67.00 to $68.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Financial Services in a research report on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Enterprise Financial Services Stock Performance

NASDAQ EFSC opened at $63.23 on Tuesday. The company's 50 day moving average is $65.62 and its 200-day moving average is $60.88. Enterprise Financial Services Corporation has a 12-month low of $51.18 and a 12-month high of $68.73. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.35. The firm has a market cap of $2.29 billion, a P/E ratio of 12.57 and a beta of 0.79.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last released 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 return on equity of 9.70% and a net margin of 18.72%.The business had revenue of $187.37 million during the quarter, compared to the consensus estimate of $189.15 million. Sell-side analysts predict that Enterprise Financial Services Corporation will post 5.31 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

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

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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