Enterprise Financial Services Corp (NASDAQ:EFSC) Stake Boosted by Quarry LP

Quarry LP increased its position in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 2,593.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 835 shares of the bank’s stock after purchasing an additional 804 shares during the quarter. Quarry LP’s holdings in Enterprise Financial Services were worth $43,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EFSC. F M Investments LLC bought a new position in Enterprise Financial Services during the second quarter worth $8,884,000. Foundry Partners LLC lifted its stake in Enterprise Financial Services by 1,856.8% in the third quarter. Foundry Partners LLC now owns 130,869 shares of the bank’s stock valued at $6,708,000 after buying an additional 124,181 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Enterprise Financial Services in the third quarter valued at $6,095,000. American Century Companies Inc. lifted its stake in Enterprise Financial Services by 19.1% in the second quarter. American Century Companies Inc. now owns 655,490 shares of the bank’s stock valued at $26,816,000 after buying an additional 104,960 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Enterprise Financial Services by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank’s stock valued at $85,257,000 after buying an additional 71,502 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EFSC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Enterprise Financial Services from $59.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler raised their target price on Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd.

Enterprise Financial Services Price Performance

Shares of EFSC opened at $59.69 on Wednesday. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 12.65 and a beta of 0.99. 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 Corp has a one year low of $37.28 and a one year high of $63.13. The stock’s fifty day moving average is $55.76 and its 200-day moving average is $49.53.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, October 21st. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.15. The company had revenue of $164.89 million for the quarter, compared to analyst estimates of $157.56 million. Enterprise Financial Services had a return on equity of 10.81% and a net margin of 19.73%. Equities analysts anticipate that Enterprise Financial Services Corp will post 4.77 EPS for the current year.

Enterprise Financial Services Increases Dividend

The company also recently announced 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 a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, December 16th. Enterprise Financial Services’s payout ratio is presently 22.88%.

Insider Buying and Selling

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

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.