Enterprise Financial Services Corporation $EFSC Shares Sold by Connable Office Inc.

Connable Office Inc. lessened its position in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) by 17.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,906 shares of the bank’s stock after selling 1,619 shares during the period. Connable Office Inc.’s holdings in Enterprise Financial Services were worth $436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Enterprise Financial Services by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 174,055 shares of the bank’s stock worth $9,590,000 after acquiring an additional 3,118 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in Enterprise Financial Services during the 2nd quarter worth approximately $1,085,000. Jennison Associates LLC grew its holdings in Enterprise Financial Services by 5.9% during the 2nd quarter. Jennison Associates LLC now owns 605,723 shares of the bank’s stock worth $33,375,000 after acquiring an additional 33,641 shares in the last quarter. AlphaQuest LLC grew its holdings in Enterprise Financial Services by 4,855.5% during the 2nd quarter. AlphaQuest LLC now owns 7,681 shares of the bank’s stock worth $423,000 after acquiring an additional 7,526 shares in the last quarter. Finally, Denali Advisors LLC raised its holdings in Enterprise Financial Services by 6.1% during the second quarter. Denali Advisors LLC now owns 121,924 shares of the bank’s stock worth $6,718,000 after purchasing an additional 6,976 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Enterprise Financial Services Stock Performance

Shares of Enterprise Financial Services stock opened at $52.39 on Tuesday. The firm’s fifty day simple moving average is $57.87 and its 200-day simple moving average is $55.78. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.19 and a beta of 0.88. Enterprise Financial Services Corporation has a 12 month low of $45.22 and a 12 month high of $63.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.88 and a quick ratio of 0.88.

Enterprise Financial Services (NASDAQ:EFSC) last announced its earnings results on Monday, October 27th. The bank reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.10). The business had revenue of ($325.26) million during the quarter, compared to analyst estimates of $176.52 million. Enterprise Financial Services had a net margin of 19.98% and a return on equity of 10.98%. As a group, equities analysts forecast that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.32 dividend. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, December 15th. This represents a $1.28 dividend on an annualized basis and a yield of 2.4%. Enterprise Financial Services’s payout ratio is 24.90%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EFSC. DA Davidson reissued a “buy” rating and set a $69.00 price objective on shares of Enterprise Financial Services in a report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Enterprise Financial Services in a report on Friday. Piper Sandler cut their price objective on shares of Enterprise Financial Services from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Keefe, Bruyette & Woods cut their price objective on shares of Enterprise Financial Services from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Finally, Wall Street Zen cut shares of Enterprise Financial Services from a “hold” rating to a “sell” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Enterprise Financial Services has an average rating of “Moderate Buy” and an average target price of $65.67.

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.