AlphaQuest LLC Grows Stake in Enterprise Financial Services Corporation $EFSC

AlphaQuest LLC boosted its position in Enterprise Financial Services Corporation (NASDAQ:EFSC) by 4,855.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,681 shares of the bank’s stock after purchasing an additional 7,526 shares during the period. AlphaQuest LLC’s holdings in Enterprise Financial Services were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Enterprise Financial Services by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,314,377 shares of the bank’s stock worth $124,375,000 after purchasing an additional 225,369 shares during the last quarter. American Century Companies Inc. lifted its stake in Enterprise Financial Services by 7.5% in the first quarter. American Century Companies Inc. now owns 911,911 shares of the bank’s stock worth $49,006,000 after purchasing an additional 63,972 shares during the last quarter. Jennison Associates LLC lifted its stake in Enterprise Financial Services by 0.9% in the first quarter. Jennison Associates LLC now owns 572,082 shares of the bank’s stock worth $30,744,000 after purchasing an additional 5,302 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Enterprise Financial Services by 11.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 488,546 shares of the bank’s stock worth $26,254,000 after purchasing an additional 51,878 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Enterprise Financial Services in the first quarter worth about $22,901,000. Institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Stock Performance

Shares of EFSC stock opened at $52.37 on Thursday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 10.19 and a beta of 0.88. The company’s 50 day moving average is $58.29 and its 200 day moving average is $55.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.36. Enterprise Financial Services Corporation has a 52-week low of $45.22 and a 52-week high of $63.13.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings data on Monday, October 27th. The bank reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.10). The business had revenue of ($325.26) million for the quarter, compared to analysts’ expectations of $176.52 million. Enterprise Financial Services had a net margin of 19.98% and a return on equity of 10.98%. On average, sell-side analysts anticipate that Enterprise Financial Services Corporation will post 4.97 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 2.4%. Enterprise Financial Services’s dividend payout ratio is 23.53%.

Insider Transactions at Enterprise Financial Services

In other news, Director Michael E. Finn purchased 1,500 shares of the business’s stock in a transaction on Monday, August 4th. The shares were acquired at an average cost of $54.11 per share, with a total value of $81,165.00. Following the completion of the acquisition, the director owned 3,000 shares of the company’s stock, valued at $162,330. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

EFSC has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Financial Services in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Enterprise Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Piper Sandler decreased their price target on shares of Enterprise Financial Services from $64.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. DA Davidson reaffirmed a “buy” rating and set a $69.00 price target on shares of Enterprise Financial Services in a research note on Tuesday. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Enterprise Financial Services from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $65.67.

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.