Jennison Associates LLC Lowers Stock Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

Jennison Associates LLC lessened its stake in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 441,630 shares of the bank’s stock after selling 20,408 shares during the quarter. Jennison Associates LLC’s holdings in Enterprise Financial Services were worth $22,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in Enterprise Financial Services by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank’s stock worth $85,257,000 after buying an additional 71,502 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Enterprise Financial Services by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,020,424 shares of the bank’s stock worth $81,948,000 after acquiring an additional 25,576 shares during the period. Earnest Partners LLC raised its holdings in Enterprise Financial Services by 3.2% during the second quarter. Earnest Partners LLC now owns 1,955,988 shares of the bank’s stock worth $80,019,000 after purchasing an additional 59,809 shares in the last quarter. American Century Companies Inc. lifted its position in Enterprise Financial Services by 19.1% in the second quarter. American Century Companies Inc. now owns 655,490 shares of the bank’s stock valued at $26,816,000 after purchasing an additional 104,960 shares during the period. Finally, F M Investments LLC boosted its holdings in Enterprise Financial Services by 0.8% in the 3rd quarter. F M Investments LLC now owns 218,978 shares of the bank’s stock valued at $11,225,000 after purchasing an additional 1,835 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

Enterprise Financial Services Stock Performance

Shares of EFSC opened at $60.74 on Friday. The company has a market capitalization of $2.26 billion, a PE ratio of 12.87 and a beta of 0.96. Enterprise Financial Services Corp has a 52-week low of $36.73 and a 52-week high of $61.68. The company has a 50-day simple moving average of $53.44 and a 200-day simple moving average of $47.55. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.27.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings results on Monday, October 21st. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.15. The company had revenue of $164.89 million during the quarter, compared to the consensus estimate of $157.56 million. Enterprise Financial Services had a net margin of 19.73% and a return on equity of 10.81%. Equities research analysts predict that Enterprise Financial Services Corp will post 4.77 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.84%. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.27. Enterprise Financial Services’s dividend payout ratio (DPR) is currently 22.88%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd.

Insider Transactions at Enterprise Financial Services

In related news, Director Richard Sanborn sold 100,000 shares of Enterprise Financial Services stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $59.56, for a total transaction of $5,956,000.00. Following the completion of the transaction, the director now directly owns 40,950 shares in the company, valued at $2,438,982. The trade was a 70.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

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.