Wellington Management Group LLP Trims Position in Enterprise Financial Services Corporation $EFSC

Wellington Management Group LLP cut its stake in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) by 10.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,909,537 shares of the bank’s stock after selling 340,594 shares during the period. Wellington Management Group LLP owned about 0.08% of Enterprise Financial Services worth $191,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Enterprise Financial Services by 929.0% in the second quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank’s stock valued at $35,000 after acquiring an additional 576 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Enterprise Financial Services during the 2nd quarter worth approximately $60,000. Kestra Advisory Services LLC bought a new stake in Enterprise Financial Services during the 4th quarter worth approximately $99,000. Fifth Third Bancorp purchased a new stake in Enterprise Financial Services in the 1st quarter worth approximately $109,000. Finally, Comerica Bank lifted its stake in Enterprise Financial Services by 17.4% in the 3rd quarter. Comerica Bank now owns 2,041 shares of the bank’s stock worth $118,000 after purchasing an additional 303 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Enterprise Financial Services Price Performance

EFSC stock opened at $63.23 on Tuesday. The firm has a 50 day simple moving average of $65.62 and a two-hundred day simple moving average of $60.88. The stock has a market cap of $2.29 billion, a PE ratio of 12.57 and a beta of 0.79. Enterprise Financial Services Corporation has a one year low of $51.18 and a one year high of $68.73. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.85 and a quick ratio of 0.85.

Enterprise Financial Services (NASDAQ:EFSC) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.20). Enterprise Financial Services had a net margin of 18.72% and a return on equity of 9.70%. The company had revenue of $187.37 million for the quarter, compared to analysts’ expectations of $189.15 million. On average, analysts predict that Enterprise Financial Services Corporation will post 5.31 EPS for the current fiscal year.

Enterprise Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, September 15th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.34. This represents a $1.40 dividend on an annualized basis and a yield of 2.2%. Enterprise Financial Services’s dividend payout ratio (DPR) is 27.04%.

Analyst Upgrades and Downgrades

EFSC has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Enterprise Financial Services from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Raymond James Financial increased their price objective on Enterprise Financial Services from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen lowered Enterprise Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Keefe, Bruyette & Woods boosted their target price on Enterprise Financial Services from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Financial Services in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Enterprise Financial Services Profile

Enterprise Financial Services Corp. (NASDAQ: EFSC) is a bank holding company headquartered in Clayton, Missouri, operating through its primary subsidiary, Enterprise Bank & Trust. The company provides a comprehensive range of banking and financial services to individuals, small- and mid-sized businesses, and institutional clients. Its capabilities encompass deposit products, lending solutions, mortgage banking, and treasury management, supported by a full suite of digital banking tools and personalized client service.

In its commercial banking segment, Enterprise Bank & Trust offers lines of credit, equipment financing, commercial real estate loans, construction lending and agriculture lending.