Choreo LLC Purchases New Stake in Enterprise Financial Services Corp (NASDAQ:EFSC)

Choreo LLC purchased a new position in Enterprise Financial Services Corp (NASDAQ:EFSC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,196 shares of the bank’s stock, valued at approximately $329,000.

A number of other hedge funds have also recently modified their holdings of the company. F M Investments LLC bought a new stake in shares of Enterprise Financial Services in the second quarter worth about $8,884,000. Wellington Management Group LLP grew its position in shares of Enterprise Financial Services by 7.0% in the 4th quarter. Wellington Management Group LLP now owns 2,295,011 shares of the bank’s stock worth $102,472,000 after buying an additional 150,023 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Enterprise Financial Services by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,912,329 shares of the bank’s stock valued at $85,387,000 after buying an additional 99,703 shares during the period. Enterprise Financial Services Corp raised its holdings in shares of Enterprise Financial Services by 16.8% during the fourth quarter. Enterprise Financial Services Corp now owns 404,058 shares of the bank’s stock valued at $18,041,000 after acquiring an additional 58,027 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Enterprise Financial Services by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 1,994,848 shares of the bank’s stock worth $89,070,000 after acquiring an additional 48,583 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Stock Performance

Shares of EFSC stock opened at $52.11 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average price is $49.68 and its 200-day moving average price is $42.77. The stock has a market cap of $1.95 billion, a PE ratio of 11.16 and a beta of 0.98. Enterprise Financial Services Corp has a 12 month low of $32.97 and a 12 month high of $54.88.

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

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.07%. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, September 16th. Enterprise Financial Services’s payout ratio is 23.13%.

Insider Activity

In related news, Director Richard Sanborn sold 94,815 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $53.73, for a total value of $5,094,409.95. Following the transaction, the director now owns 139,460 shares in the company, valued at approximately $7,493,185.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their target price on shares of Enterprise Financial Services from $45.00 to $58.00 and gave the company an “overweight” rating in a research note 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.