Summit Securities Group LLC Purchases New Holdings in Enterprise Financial Services Corporation $EFSC

Summit Securities Group LLC purchased a new stake in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 593 shares of the bank’s stock, valued at approximately $32,000.

A number of other large investors also recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in Enterprise Financial Services by 51.7% during the 1st quarter. Versant Capital Management Inc now owns 775 shares of the bank’s stock valued at $42,000 after acquiring an additional 264 shares during the period. Summit Investment Advisors Inc. increased its stake in Enterprise Financial Services by 7.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,873 shares of the bank’s stock valued at $218,000 after purchasing an additional 265 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Enterprise Financial Services by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,640 shares of the bank’s stock valued at $411,000 after purchasing an additional 302 shares in the last quarter. XTX Topco Ltd increased its stake in Enterprise Financial Services by 7.5% during the 4th quarter. XTX Topco Ltd now owns 5,714 shares of the bank’s stock valued at $322,000 after purchasing an additional 399 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Enterprise Financial Services during the 1st quarter valued at about $28,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Enterprise Financial Services Stock Performance

Shares of EFSC stock opened at $57.05 on Tuesday. The company has a 50 day moving average price of $55.74 and a 200-day moving average price of $54.84. Enterprise Financial Services Corporation has a 52 week low of $45.22 and a 52 week high of $63.13. The firm has a market capitalization of $2.11 billion, a PE ratio of 10.83 and a beta of 0.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.36.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings results on Monday, July 28th. The bank reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.17. Enterprise Financial Services had a net margin of 21.28% and a return on equity of 11.19%. The firm had revenue of $176.05 million during the quarter, compared to analyst estimates of $166.82 million. As a group, equities research analysts expect that Enterprise Financial Services Corporation 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 Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $0.31 dividend. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, September 15th. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 22.77%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Enterprise Financial Services from $69.00 to $66.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. DA Davidson reduced their price objective 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, April 30th. Finally, Wall Street Zen upgraded shares of Enterprise Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

Insider Buying and Selling

In related news, Director Michael E. Finn purchased 1,500 shares of Enterprise Financial Services stock in a transaction dated Monday, August 4th. The stock was purchased at an average cost of $54.11 per share, for a total transaction of $81,165.00. Following the completion of the purchase, the director directly owned 3,000 shares of the company’s stock, valued at $162,330. The trade was a 100.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Brian Lally sold 1,828 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $55.16, for a total transaction of $100,832.48. Following the completion of the transaction, the chief executive officer directly owned 100,885 shares in the company, valued at approximately $5,564,816.60. The trade was a 1.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.20% 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.