Allspring Global Investments Holdings LLC Purchases 2,182 Shares of Enterprise Financial Services Corporation (NASDAQ:EFSC)

Allspring Global Investments Holdings LLC increased its position in Enterprise Financial Services Corporation (NASDAQ:EFSC) by 53.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,232 shares of the bank’s stock after purchasing an additional 2,182 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Enterprise Financial Services were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of Enterprise Financial Services by 5.7% in the 4th quarter. US Bancorp DE now owns 4,095 shares of the bank’s stock valued at $231,000 after purchasing an additional 222 shares during the period. Versant Capital Management Inc raised its holdings in shares of Enterprise Financial Services by 51.7% in the 1st quarter. Versant Capital Management Inc now owns 775 shares of the bank’s stock valued at $42,000 after purchasing an additional 264 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Enterprise Financial Services by 7.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,873 shares of the bank’s stock valued at $218,000 after purchasing an additional 265 shares during the period. Prudential Financial Inc. raised its holdings in Enterprise Financial Services by 1.1% in the 4th quarter. Prudential Financial Inc. now owns 27,696 shares of the bank’s stock valued at $1,629,000 after acquiring an additional 293 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Enterprise Financial Services by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,640 shares of the bank’s stock valued at $411,000 after acquiring an additional 302 shares during the period. 72.21% of the stock is owned by institutional investors.

Insider Activity at Enterprise Financial Services

In related news, CEO James Brian Lally sold 1,828 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $55.16, for a total transaction of $100,832.48. Following the sale, the chief executive officer owned 100,885 shares in the company, valued at approximately $5,564,816.60. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael E. Finn bought 1,500 shares of the business’s stock in a transaction on Friday, June 6th. The stock was bought at an average price of $52.50 per share, for a total transaction of $78,750.00. Following the transaction, the director directly owned 1,500 shares of the company’s stock, valued at approximately $78,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 8,572 shares of company stock worth $472,667 in the last quarter. 2.30% of the stock is currently owned by company insiders.

Enterprise Financial Services Stock Performance

NASDAQ EFSC opened at $57.17 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 11.21 and a beta of 0.86. The firm’s 50 day simple moving average is $54.12 and its 200 day simple moving average is $54.95. Enterprise Financial Services Corporation has a 1 year low of $42.43 and a 1 year high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings results on Monday, April 28th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.14. The business had revenue of $18.48 million for the quarter, compared to analyst estimates of $162.83 million. Enterprise Financial Services had a net margin of 20.92% and a return on equity of 11.14%. As a group, research analysts expect that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.30 per share. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. Enterprise Financial Services’s dividend payout ratio (DPR) is currently 23.53%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EFSC. Keefe, Bruyette & Woods lowered their price target on shares of Enterprise Financial Services from $69.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. DA Davidson lowered their target price on shares of Enterprise Financial Services from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Enterprise Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, June 7th.

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.