Federated Hermes Inc. Sells 906 Shares of Enterprise Financial Services Corp (NASDAQ:EFSC)

Federated Hermes Inc. trimmed its position in Enterprise Financial Services Corp (NASDAQ:EFSC) by 48.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 962 shares of the bank’s stock after selling 906 shares during the quarter. Federated Hermes Inc.’s holdings in Enterprise Financial Services were worth $39,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake in shares of Enterprise Financial Services by 2.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 8,133 shares of the bank’s stock valued at $333,000 after purchasing an additional 224 shares in the last quarter. Arizona State Retirement System grew its position in Enterprise Financial Services by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 10,502 shares of the bank’s stock worth $430,000 after acquiring an additional 228 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its stake in shares of Enterprise Financial Services by 0.8% during the second quarter. Cornercap Investment Counsel Inc. now owns 29,469 shares of the bank’s stock valued at $1,206,000 after purchasing an additional 229 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Enterprise Financial Services by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,380 shares of the bank’s stock valued at $178,000 after acquiring an additional 370 shares during the period. Finally, Quest Partners LLC raised its position in Enterprise Financial Services by 4.8% during the 2nd quarter. Quest Partners LLC now owns 10,851 shares of the bank’s stock worth $444,000 after purchasing an additional 500 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Enterprise Financial Services

In related news, Director Richard Sanborn sold 94,815 shares of Enterprise Financial Services stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $53.73, for a total transaction of $5,094,409.95. Following the transaction, the director now owns 139,460 shares of the company’s stock, valued at $7,493,185.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Enterprise Financial Services Stock Down 0.5 %

Shares of Enterprise Financial Services stock opened at $50.63 on Thursday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 10.84 and a beta of 0.98. Enterprise Financial Services Corp has a one year low of $32.97 and a one year high of $54.88. The stock’s 50-day moving average is $50.83 and its 200 day moving average is $43.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.92 and a quick ratio of 0.92.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15. The firm had revenue of $156.02 million during the quarter, compared to the consensus estimate of $153.41 million. Enterprise Financial Services had a net margin of 19.61% and a return on equity of 10.95%. Equities research analysts anticipate that Enterprise Financial Services Corp will post 4.6 EPS for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.27 per share. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.08 annualized dividend and a yield of 2.13%. Enterprise Financial Services’s dividend payout ratio is presently 23.13%.

Analysts Set New Price Targets

Separately, Piper Sandler boosted their price target on shares of Enterprise Financial Services from $45.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th.

Enterprise Financial Services 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.