Rhumbline Advisers Buys 2,924 Shares of Enterprise Financial Services Corp (NASDAQ:EFSC)

Rhumbline Advisers boosted its stake in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,908 shares of the bank’s stock after acquiring an additional 2,924 shares during the quarter. Rhumbline Advisers owned 0.17% of Enterprise Financial Services worth $3,327,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EFSC. New York State Teachers Retirement System acquired a new stake in shares of Enterprise Financial Services during the 4th quarter worth about $191,000. Principal Financial Group Inc. grew its stake in Enterprise Financial Services by 7.0% during the fourth quarter. Principal Financial Group Inc. now owns 17,252 shares of the bank’s stock worth $973,000 after buying an additional 1,128 shares during the last quarter. Peregrine Capital Management LLC grew its stake in Enterprise Financial Services by 9.9% during the fourth quarter. Peregrine Capital Management LLC now owns 106,030 shares of the bank’s stock worth $5,980,000 after buying an additional 9,565 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Enterprise Financial Services by 48.4% during the fourth quarter. New York State Common Retirement Fund now owns 67,186 shares of the bank’s stock worth $3,789,000 after buying an additional 21,922 shares in the last quarter. Finally, PL Capital Advisors LLC raised its stake in shares of Enterprise Financial Services by 5,540.0% in the fourth quarter. PL Capital Advisors LLC now owns 39,695,956 shares of the bank’s stock valued at $2,238,852,000 after acquiring an additional 38,992,127 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EFSC shares. Keefe, Bruyette & Woods decreased their price target on Enterprise Financial Services from $69.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen lowered Enterprise Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, June 7th. Finally, DA Davidson lowered their target price on Enterprise Financial Services from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th.

Insider Activity at Enterprise Financial Services

In related news, CEO James Brian Lally sold 4,689 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $55.18, for a total transaction of $258,739.02. Following the completion of the sale, the chief executive officer now directly owns 106,974 shares of the company’s stock, valued at $5,902,825.32. The trade was a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael E. Finn acquired 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average price of $52.50 per share, for a total transaction of $78,750.00. Following the completion of the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at $78,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.20% of the stock is owned by company insiders.

Enterprise Financial Services Price Performance

Shares of EFSC stock opened at $52.30 on Friday. Enterprise Financial Services Corp has a 1 year low of $37.31 and a 1 year high of $63.13. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $51.86 and its 200-day moving average is $55.41. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.81 and a beta of 0.86.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings data on Monday, April 28th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.14. The firm had revenue of $18.48 million during the quarter, compared to analysts’ expectations of $162.83 million. Enterprise Financial Services had a net margin of 20.12% and a return on equity of 10.94%. Sell-side analysts forecast that Enterprise Financial Services Corp will post 4.97 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, June 16th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.29. Enterprise Financial Services’s dividend payout ratio is 23.53%.

About Enterprise Financial Services

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.