Envestnet Asset Management Inc. Sells 11,732 Shares of Enterprise Financial Services Corporation $EFSC

Envestnet Asset Management Inc. trimmed its position in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,478 shares of the bank’s stock after selling 11,732 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.29% of Enterprise Financial Services worth $5,977,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EFSC. Focus Partners Advisor Solutions LLC boosted its position in shares of Enterprise Financial Services by 9.7% during the first quarter. Focus Partners Advisor Solutions LLC now owns 6,289 shares of the bank’s stock valued at $338,000 after purchasing an additional 554 shares in the last quarter. CWM LLC lifted its position in Enterprise Financial Services by 83.6% during the first quarter. CWM LLC now owns 1,252 shares of the bank’s stock valued at $67,000 after buying an additional 570 shares during the period. Summit Securities Group LLC bought a new stake in shares of Enterprise Financial Services during the 1st quarter valued at $32,000. PNC Financial Services Group Inc. grew its position in shares of Enterprise Financial Services by 302.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 793 shares of the bank’s stock worth $43,000 after buying an additional 596 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Enterprise Financial Services by 3.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,762 shares of the bank’s stock worth $1,169,000 after acquiring an additional 698 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Trading Down 0.8%

Shares of NASDAQ:EFSC opened at $52.98 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.88 and a quick ratio of 0.88. Enterprise Financial Services Corporation has a 1 year low of $45.22 and a 1 year high of $63.13. The company has a market cap of $1.96 billion, a P/E ratio of 10.31 and a beta of 0.90. The stock’s fifty day moving average price is $56.76 and its 200-day moving average price is $55.90.

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

Enterprise Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, December 15th. Enterprise Financial Services’s payout ratio is currently 24.90%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Enterprise Financial Services in a research note on Friday, October 31st. Keefe, Bruyette & Woods dropped their price target on Enterprise Financial Services from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Piper Sandler reduced their price objective on Enterprise Financial Services from $64.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Wall Street Zen upgraded Enterprise Financial Services from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, DA Davidson reissued a “buy” rating and issued a $69.00 target price on shares of Enterprise Financial Services in a report on Tuesday, October 28th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Enterprise Financial Services has a consensus rating of “Moderate Buy” and a consensus price target 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.