Jennison Associates LLC Decreases Holdings in Enterprise Financial Services Corporation $EFSC

Jennison Associates LLC decreased its holdings in Enterprise Financial Services Corporation (NASDAQ:EFSC) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 607,892 shares of the bank’s stock after selling 13,932 shares during the period. Jennison Associates LLC owned 1.66% of Enterprise Financial Services worth $32,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in Enterprise Financial Services by 929.0% during 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 period. First Horizon Corp boosted its holdings in shares of Enterprise Financial Services by 55.6% in the 4th quarter. First Horizon Corp now owns 708 shares of the bank’s stock worth $38,000 after purchasing an additional 253 shares during the period. Signaturefd LLC boosted its holdings in shares of Enterprise Financial Services by 65.0% in the 4th quarter. Signaturefd LLC now owns 812 shares of the bank’s stock worth $44,000 after purchasing an additional 320 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Enterprise Financial Services during the 4th quarter valued at approximately $99,000. Finally, Fifth Third Bancorp bought a new position in shares of Enterprise Financial Services during the 1st quarter valued at approximately $109,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Trading Down 0.8%

Shares of EFSC opened at $66.88 on Tuesday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.84. Enterprise Financial Services Corporation has a 1-year low of $51.18 and a 1-year high of $68.73. The company has a 50-day moving average of $63.00 and a 200 day moving average of $58.99.

Enterprise Financial Services (NASDAQ:EFSC) last issued its earnings results on Wednesday, April 22nd. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The business had revenue of $188.85 million for the quarter, compared to analyst estimates of $174.02 million. Enterprise Financial Services had a net margin of 19.81% and a return on equity of 10.35%. On average, research analysts expect that Enterprise Financial Services Corporation will post 5.57 EPS for the current year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, June 15th. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.33. Enterprise Financial Services’s dividend payout ratio (DPR) is 25.66%.

Insiders Place Their Bets

In other Enterprise Financial Services news, EVP Mark G. Ponder sold 1,250 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $60.55, for a total value of $75,687.50. Following the completion of the sale, the executive vice president directly owned 23,526 shares in the company, valued at approximately $1,424,499.30. This represents a 5.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

EFSC has been the subject of a number of analyst reports. Wall Street Zen downgraded Enterprise Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods increased their target price on shares of Enterprise Financial Services from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Raymond James Financial raised their target price on shares of Enterprise Financial Services from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Piper Sandler lifted their price target on shares of Enterprise Financial Services from $64.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

About Enterprise Financial Services

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.