Readystate Asset Management LP Buys New Stake in Enterprise Financial Services Corp (NASDAQ:EFSC)

Readystate Asset Management LP bought a new stake in Enterprise Financial Services Corp (NASDAQ:EFSC) during the third quarter, according to its most recent filing with the SEC. The firm bought 10,946 shares of the bank’s stock, valued at approximately $561,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Enterprise Financial Services in the 2nd quarter worth $29,000. Innealta Capital LLC acquired a new stake in Enterprise Financial Services in the 2nd quarter worth $31,000. Point72 DIFC Ltd acquired a new stake in Enterprise Financial Services in the 3rd quarter worth $102,000. FMR LLC grew its position in Enterprise Financial Services by 34.2% in the 3rd quarter. FMR LLC now owns 2,560 shares of the bank’s stock worth $131,000 after purchasing an additional 653 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Enterprise Financial Services by 169.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,452 shares of the bank’s stock worth $177,000 after purchasing an additional 2,172 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Enterprise Financial Services

In related news, Director Richard Sanborn sold 100,000 shares of Enterprise Financial Services stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total transaction of $5,956,000.00. Following the completion of the transaction, the director now directly owns 40,950 shares of the company’s stock, valued at $2,438,982. This trade represents a 70.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on EFSC. Piper Sandler raised their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Enterprise Financial Services from $59.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday.

Enterprise Financial Services Price Performance

NASDAQ:EFSC opened at $59.99 on Friday. The company has a 50-day moving average of $55.20 and a 200-day moving average of $48.96. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 12.71 and a beta of 0.99. Enterprise Financial Services Corp has a 52 week low of $37.28 and a 52 week high of $63.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.91 and a current ratio of 0.91.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.15. Enterprise Financial Services had a net margin of 19.73% and a return on equity of 10.81%. The firm had revenue of $164.89 million during the quarter, compared to the consensus estimate of $157.56 million. As a group, equities research analysts anticipate that Enterprise Financial Services Corp will post 4.77 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.28 per share. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, December 16th. Enterprise Financial Services’s dividend payout ratio (DPR) is currently 22.88%.

Enterprise Financial Services Company Profile

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.