Principal Financial Group Inc. Has $1.03 Million Position in Enterprise Financial Services Corporation (NASDAQ:EFSC)

Principal Financial Group Inc. grew its position in Enterprise Financial Services Corporation (NASDAQ:EFSC) by 11.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,214 shares of the bank’s stock after buying an additional 1,962 shares during the quarter. Principal Financial Group Inc. owned 0.05% of Enterprise Financial Services worth $1,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in EFSC. Opal Wealth Advisors LLC bought a new stake in Enterprise Financial Services during the 1st quarter worth approximately $28,000. Versant Capital Management Inc grew its holdings in Enterprise Financial Services by 51.7% during the 1st quarter. Versant Capital Management Inc now owns 775 shares of the bank’s stock worth $42,000 after acquiring an additional 264 shares during the last quarter. USA Financial Formulas bought a new stake in Enterprise Financial Services during the 1st quarter worth approximately $50,000. KBC Group NV bought a new stake in Enterprise Financial Services during the 1st quarter worth approximately $117,000. Finally, Crestline Management LP bought a new stake in shares of Enterprise Financial Services in the 4th quarter valued at $203,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael E. Finn purchased 1,500 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $52.50 per share, with a total value of $78,750.00. Following the completion of the acquisition, the director owned 1,500 shares in the company, valued at $78,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Brian Lally sold 4,689 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $55.18, for a total transaction of $258,739.02. Following the completion of the transaction, the chief executive officer directly owned 106,974 shares in the company, valued at approximately $5,902,825.32. The trade was a 4.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,572 shares of company stock valued at $472,667 in the last quarter. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Enterprise Financial Services Stock Performance

NASDAQ EFSC opened at $58.63 on Friday. Enterprise Financial Services Corporation has a 52-week low of $45.22 and a 52-week high of $63.13. The company has a 50-day simple moving average of $54.62 and a 200 day simple moving average of $54.99. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $2.17 billion, a PE ratio of 11.50 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.14. The business had revenue of $18.48 million during the quarter, compared to the consensus estimate of $162.83 million. Enterprise Financial Services had a net margin of 20.92% and a return on equity of 11.14%. On average, research analysts predict that Enterprise Financial Services Corporation will post 4.97 EPS for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.30 dividend. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.20 annualized dividend and a dividend yield of 2.05%. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 23.53%.

Enterprise Financial Services Company 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.