Enterprise Financial Services Corp (NASDAQ:EFSC) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. trimmed its holdings in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,713 shares of the bank’s stock after selling 7,124 shares during the quarter. Phocas Financial Corp. owned 0.31% of Enterprise Financial Services worth $5,829,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in EFSC. Vanguard Group Inc. increased its position in shares of Enterprise Financial Services by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,020,424 shares of the bank’s stock worth $81,948,000 after purchasing an additional 25,576 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Enterprise Financial Services by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,084,093 shares of the bank’s stock valued at $85,257,000 after purchasing an additional 71,502 shares during the last quarter. American Century Companies Inc. boosted its stake in Enterprise Financial Services by 19.1% during the 2nd 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. GSA Capital Partners LLP bought a new stake in shares of Enterprise Financial Services during the third quarter valued at about $1,417,000. Finally, 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. 72.21% of the stock is owned by institutional investors and hedge funds.

Enterprise Financial Services Trading Down 0.4 %

NASDAQ:EFSC opened at $58.58 on Tuesday. The stock’s 50-day moving average is $52.91 and its two-hundred day moving average is $47.24. The stock has a market cap of $2.18 billion, a PE ratio of 12.41 and a beta of 0.96. Enterprise Financial Services Corp has a fifty-two week low of $36.73 and a fifty-two week high of $61.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91.

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

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Monday, December 16th. This is a boost from Enterprise Financial Services’s previous quarterly dividend of $0.27. Enterprise Financial Services’s payout ratio is currently 22.88%.

Analyst Ratings Changes

Separately, Piper Sandler upped their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd.

Insider Activity

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

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.