Bank of New York Mellon Corp Reduces Holdings in Enterprise Financial Services Corporation (NASDAQ:EFSC)

Bank of New York Mellon Corp reduced its holdings in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) by 2.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,937 shares of the bank’s stock after selling 3,963 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.46% of Enterprise Financial Services worth $9,186,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EFSC. Opal Wealth Advisors LLC acquired a new position in Enterprise Financial Services during the first quarter valued at approximately $28,000. Versant Capital Management Inc lifted its position in Enterprise Financial Services by 51.7% during the first quarter. Versant Capital Management Inc now owns 775 shares of the bank’s stock valued at $42,000 after buying an additional 264 shares in the last quarter. USA Financial Formulas acquired a new position in Enterprise Financial Services during the first quarter valued at approximately $50,000. KBC Group NV acquired a new position in Enterprise Financial Services during the first quarter valued at approximately $117,000. Finally, Crestline Management LP acquired a new position in Enterprise Financial Services during the fourth quarter valued at approximately $203,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Financial Services Trading Down 0.9%

NASDAQ:EFSC opened at $58.08 on Tuesday. The stock’s 50 day moving average price is $54.62 and its 200 day moving average price is $54.99. Enterprise Financial Services Corporation has a 52 week low of $45.22 and a 52 week high of $63.13. The company has a market capitalization of $2.14 billion, a P/E ratio of 11.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89.

Enterprise Financial Services (NASDAQ:EFSC) last announced its quarterly earnings results on Monday, April 28th. The bank reported $1.31 EPS for the quarter, beating the consensus estimate of $1.17 by $0.14. The company had revenue of $18.48 million for the quarter, compared to the consensus estimate of $162.83 million. Enterprise Financial Services had a return on equity of 11.14% and a net margin of 20.92%. On average, research analysts forecast that Enterprise Financial Services Corporation will post 4.97 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $0.30 dividend. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, June 16th. Enterprise Financial Services’s dividend payout ratio (DPR) is 23.53%.

Insider Buying and Selling at Enterprise Financial Services

In other Enterprise Financial Services news, Director Michael E. Finn purchased 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average cost of $52.50 per share, with a total value of $78,750.00. Following the completion of the acquisition, the director directly owned 1,500 shares of the company’s stock, valued at $78,750. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Brian Lally sold 4,689 shares of Enterprise Financial Services stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $55.18, for a total value of $258,739.02. Following the completion of the transaction, the chief executive officer directly owned 106,974 shares of the company’s stock, valued at $5,902,825.32. This represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,572 shares of company stock valued at $472,667. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EFSC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut 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. Wall Street Zen cut shares of Enterprise Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, June 7th. Finally, DA Davidson cut their price target 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.

Enterprise Financial Services 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.