The Manufacturers Life Insurance Company Makes New Investment in Enterprise Financial Services Corporation $EFSC

The Manufacturers Life Insurance Company bought a new stake in Enterprise Financial Services Corporation (NASDAQ:EFSC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,779 shares of the bank’s stock, valued at approximately $1,237,000.

Several other institutional investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Enterprise Financial Services by 929.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank’s stock valued at $35,000 after acquiring an additional 576 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Enterprise Financial Services during the second quarter worth about $60,000. Kestra Advisory Services LLC purchased a new position in Enterprise Financial Services during the fourth quarter worth about $99,000. Fifth Third Bancorp acquired a new position in Enterprise Financial Services in the 1st quarter valued at about $109,000. Finally, Comerica Bank grew its stake in shares of Enterprise Financial Services by 17.4% in the 3rd quarter. Comerica Bank now owns 2,041 shares of the bank’s stock valued at $118,000 after buying an additional 303 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EFSC shares. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Financial Services in a report on Friday, July 10th. Raymond James Financial increased their price objective on Enterprise Financial Services from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their target price 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. Piper Sandler upped their price target on Enterprise Financial Services from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Wall Street Zen raised Enterprise Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Enterprise Financial Services Stock Performance

NASDAQ:EFSC opened at $64.66 on Friday. Enterprise Financial Services Corporation has a fifty-two week low of $51.18 and a fifty-two week high of $68.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average price of $65.48 and a 200 day moving average price of $60.98. The stock has a market capitalization of $2.34 billion, a P/E ratio of 12.85 and a beta of 0.78.

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

Enterprise Financial Services Increases Dividend

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

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.