Jennison Associates LLC Increases Position in Enterprise Financial Services Corp (NASDAQ:EFSC)

Jennison Associates LLC lifted its holdings in Enterprise Financial Services Corp (NASDAQ:EFSC) by 28.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 566,780 shares of the bank’s stock after purchasing an additional 125,150 shares during the period. Jennison Associates LLC’s holdings in Enterprise Financial Services were worth $31,966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc purchased a new stake in Enterprise Financial Services in the fourth quarter worth $29,000. Quarry LP increased its stake in Enterprise Financial Services by 2,593.5% in the 3rd quarter. Quarry LP now owns 835 shares of the bank’s stock worth $43,000 after buying an additional 804 shares during the period. Point72 DIFC Ltd bought a new stake in Enterprise Financial Services during the 3rd quarter valued at about $102,000. FMR LLC boosted its position in Enterprise Financial Services by 34.2% in the 3rd quarter. FMR LLC now owns 2,560 shares of the bank’s stock valued at $131,000 after buying an additional 653 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Enterprise Financial Services by 169.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,452 shares of the bank’s stock valued at $177,000 after buying an additional 2,172 shares during the period. 72.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on EFSC. Piper Sandler lifted their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. DA Davidson lifted their target price on Enterprise Financial Services from $67.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $70.00 target price (up from $68.00) on shares of Enterprise Financial Services in a report on Wednesday, January 29th.

Enterprise Financial Services Price Performance

Shares of EFSC opened at $60.64 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day moving average price of $57.82 and a 200-day moving average price of $54.42. Enterprise Financial Services Corp has a fifty-two week low of $37.28 and a fifty-two week high of $63.13. The stock has a market capitalization of $2.25 billion, a PE ratio of 12.53 and a beta of 0.99.

Enterprise Financial Services (NASDAQ:EFSC) last posted its earnings results on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. Enterprise Financial Services had a return on equity of 10.94% and a net margin of 20.12%. Equities analysts predict that Enterprise Financial Services Corp will post 4.84 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.28. Enterprise Financial Services’s payout ratio is 23.14%.

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.