Jennison Associates LLC Acquires 105,004 Shares of Enterprise Financial Services Corp (NASDAQ:EFSC)

Jennison Associates LLC raised its position in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) by 34.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,256 shares of the bank's stock after buying an additional 105,004 shares during the quarter. Jennison Associates LLC owned about 1.10% of Enterprise Financial Services worth $18,363,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Enterprise Financial Services by 11.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,144,988 shares of the bank's stock valued at $80,437,000 after purchasing an additional 220,690 shares during the period. Vanguard Group Inc. raised its stake in shares of Enterprise Financial Services by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,946,265 shares of the bank's stock valued at $72,985,000 after purchasing an additional 14,588 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Enterprise Financial Services by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 411,413 shares of the bank's stock valued at $15,428,000 after purchasing an additional 16,069 shares during the period. American Century Companies Inc. raised its stake in shares of Enterprise Financial Services by 14.7% during the 3rd quarter. American Century Companies Inc. now owns 349,266 shares of the bank's stock valued at $13,097,000 after purchasing an additional 44,694 shares during the period. Finally, Mesirow Institutional Investment Management Inc. raised its stake in shares of Enterprise Financial Services by 4.0% during the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 283,656 shares of the bank's stock valued at $10,637,000 after purchasing an additional 10,828 shares during the period. 72.21% of the stock is currently owned by institutional investors.

Enterprise Financial Services Price Performance

Shares of EFSC traded down $0.09 during midday trading on Friday, reaching $38.80. The stock had a trading volume of 97,248 shares, compared to its average volume of 143,983. The company's 50-day moving average is $39.39 and its 200 day moving average is $40.04. Enterprise Financial Services Corp has a 12-month low of $32.97 and a 12-month high of $46.17. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.33 and a beta of 0.99.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its quarterly earnings data on Monday, January 22nd. The bank reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.02. Enterprise Financial Services had a return on equity of 11.50% and a net margin of 20.60%. The firm had revenue of $166.18 million during the quarter, compared to analysts' expectations of $157.53 million. On average, equities analysts predict that Enterprise Financial Services Corp will post 4.36 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.26 dividend. This is a boost from Enterprise Financial Services's previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, June 14th. Enterprise Financial Services's dividend payout ratio is presently 21.41%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EFSC. DA Davidson reduced their target price on Enterprise Financial Services from $47.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday. Piper Sandler reduced their target price on Enterprise Financial Services from $48.00 to $47.00 and set an "overweight" rating for the company in a research report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods reduced their target price on Enterprise Financial Services from $51.00 to $49.00 and set an "outperform" rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.75.

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.