Renaissance Technologies LLC Invests $1.07 Million in Enterprise Financial Services Corp (NASDAQ:EFSC)

Renaissance Technologies LLC acquired a new position in Enterprise Financial Services Corp (NASDAQ:EFSC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,004 shares of the bank's stock, valued at approximately $1,072,000. Renaissance Technologies LLC owned approximately 0.05% of Enterprise Financial Services at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of EFSC. Barclays PLC grew its stake in Enterprise Financial Services by 73.3% in the 3rd quarter. Barclays PLC now owns 83,910 shares of the bank's stock valued at $4,302,000 after buying an additional 35,484 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Enterprise Financial Services by 94.8% in the third quarter. Franklin Resources Inc. now owns 46,727 shares of the bank's stock valued at $2,391,000 after purchasing an additional 22,739 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Enterprise Financial Services by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 557,875 shares of the bank's stock worth $28,597,000 after purchasing an additional 29,747 shares during the period. Versant Capital Management Inc acquired a new position in shares of Enterprise Financial Services during the 4th quarter worth about $29,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Enterprise Financial Services by 7.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,141 shares of the bank's stock valued at $403,000 after purchasing an additional 502 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on Enterprise Financial Services from $69.00 to $66.00 and set an "outperform" rating for the company in a report on Wednesday. DA Davidson cut 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 note on Wednesday.

Enterprise Financial Services Stock Performance

EFSC stock traded up $0.56 during midday trading on Friday, hitting $52.95. The stock had a trading volume of 126,490 shares, compared to its average volume of 176,924. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 10.94 and a beta of 0.84. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The stock has a 50-day simple moving average of $52.81 and a 200 day simple moving average of $56.07. Enterprise Financial Services Corp has a 52 week low of $37.28 and a 52 week high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC - Get Free Report) last posted its earnings results on Monday, April 28th. The bank reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.14. The business had revenue of $18.48 million for the quarter, compared to analysts' expectations of $162.83 million. Enterprise Financial Services had a net margin of 20.12% and a return on equity of 10.94%. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.30 dividend. This is a positive change from Enterprise Financial Services's previous quarterly dividend of $0.29. The ex-dividend date is Monday, June 16th. This represents a $1.20 annualized dividend and a yield of 2.27%. Enterprise Financial Services's payout ratio is currently 23.53%.

Insider Buying and Selling at Enterprise Financial Services

In other news, Director James M. Havel sold 5,525 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $58.47, for a total value of $323,046.75. Following the sale, the director now owns 15,447 shares of the company's stock, valued at approximately $903,186.09. This represents a 26.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company's stock.

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.