Wellington Management Group LLP Has $147.45 Million Holdings in Enterprise Financial Services Corporation $EFSC

Key Points

• Wellington Management Group LLP decreased its stake in Enterprise Financial Services Corporation by 18.7%, holding 2,743,772 shares valued at approximately $147.45 million.
• Enterprise Financial Services reported earnings of $1.37 EPS for the last quarter, exceeding estimates by $0.17, with a net margin of 21.28%.
• The company increased its quarterly dividend to $0.31 per share, representing a yield of 2.2% and a payout ratio of 23.53%.

Wellington Management Group LLP lowered its position in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC - Free Report) by 18.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,743,772 shares of the bank's stock after selling 630,155 shares during the period. Wellington Management Group LLP owned 7.43% of Enterprise Financial Services worth $147,450,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its position in Enterprise Financial Services by 51.7% in the 1st quarter. Versant Capital Management Inc now owns 775 shares of the bank's stock valued at $42,000 after acquiring an additional 264 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Enterprise Financial Services by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,640 shares of the bank's stock worth $411,000 after purchasing an additional 302 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Enterprise Financial Services by 7.5% in the fourth quarter. XTX Topco Ltd now owns 5,714 shares of the bank's stock worth $322,000 after purchasing an additional 399 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Enterprise Financial Services during the first quarter valued at $28,000. Finally, CWM LLC raised its stake in shares of Enterprise Financial Services by 83.6% during the first quarter. CWM LLC now owns 1,252 shares of the bank's stock valued at $67,000 after purchasing an additional 570 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Enterprise Financial Services news, Director Michael E. Finn bought 1,500 shares of the stock in a transaction on Monday, August 4th. The shares were bought at an average price of $54.11 per share, with a total value of $81,165.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at $162,330. The trade was a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Brian Lally sold 1,828 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $55.16, for a total transaction of $100,832.48. Following the completion of the sale, the chief executive officer directly owned 100,885 shares of the company's stock, valued at $5,564,816.60. This trade represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.

Enterprise Financial Services Price Performance

Shares of NASDAQ EFSC traded up $0.89 during midday trading on Tuesday, reaching $61.05. The company's stock had a trading volume of 154,506 shares, compared to its average volume of 152,559. Enterprise Financial Services Corporation has a one year low of $45.22 and a one year high of $63.13. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 11.58 and a beta of 0.90. The company has a 50 day moving average price of $56.46 and a 200 day moving average price of $54.81. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last issued its earnings results on Monday, July 28th. The bank reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.17. The firm had revenue of $176.05 million during the quarter, compared to analysts' expectations of $166.82 million. Enterprise Financial Services had a net margin of 21.28% and a return on equity of 11.19%. On average, equities research analysts expect that Enterprise Financial Services Corporation will post 4.97 EPS for the current year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed 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. This represents a $1.24 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, September 15th. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.30. Enterprise Financial Services's dividend payout ratio is presently 22.77%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EFSC shares. DA Davidson decreased their target price on shares of Enterprise Financial Services from $70.00 to $65.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Enterprise Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $64.33.

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.