BlackRock Inc. Takes $235.01 Million Position in Enterprise Financial Services Corporation $EFSC

BlackRock Inc. bought a new position in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,567,204 shares of the bank’s stock, valued at approximately $235,007,000. BlackRock Inc. owned approximately 0.10% of Enterprise Financial Services as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in Enterprise Financial Services by 929.0% in the second quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank’s stock valued at $35,000 after purchasing an additional 576 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Enterprise Financial Services during the 4th quarter valued at $99,000. Fifth Third Bancorp purchased a new position in Enterprise Financial Services during the first quarter worth $109,000. Comerica Bank boosted its stake in shares of Enterprise Financial Services by 17.4% during the third quarter. Comerica Bank now owns 2,041 shares of the bank’s stock valued at $118,000 after acquiring an additional 303 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Enterprise Financial Services by 106.0% during the second quarter. Federated Hermes Inc. now owns 2,182 shares of the bank’s stock valued at $120,000 after acquiring an additional 1,123 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Enterprise Financial Services Stock Performance

Shares of EFSC opened at $63.50 on Friday. Enterprise Financial Services Corporation has a 1 year low of $51.18 and a 1 year high of $68.73. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 12.62 and a beta of 0.79. The firm has a fifty day moving average of $65.59 and a 200-day moving average of $60.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85.

Enterprise Financial Services (NASDAQ:EFSC) last released its earnings results on Wednesday, July 22nd. The bank reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.20). The business had revenue of $187.37 million during the quarter, compared to the consensus estimate of $189.15 million. Enterprise Financial Services had a return on equity of 9.70% and a net margin of 18.72%. As a group, equities analysts anticipate that Enterprise Financial Services Corporation will post 5.31 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.35 per share. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Enterprise Financial Services’s dividend payout ratio (DPR) is currently 27.04%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Piper Sandler lifted their target price on shares of Enterprise Financial Services from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Raymond James Financial boosted their price target on Enterprise Financial Services from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their price objective on Enterprise Financial Services from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Wall Street Zen downgraded shares of Enterprise Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Enterprise Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Enterprise Financial Services Profile

Enterprise Financial Services Corp. (NASDAQ: EFSC) is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.