Jennison Associates LLC Purchases 105,004 Shares of Enterprise Financial Services Corp (NASDAQ:EFSC)

Jennison Associates LLC grew its position in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 34.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 411,256 shares of the bank’s stock after purchasing an additional 105,004 shares during the quarter. Jennison Associates LLC owned about 1.10% of Enterprise Financial Services worth $18,363,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Enterprise Financial Services by 263.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,469 shares of the bank’s stock worth $55,000 after purchasing an additional 1,065 shares during the last quarter. Emerald Advisers LLC bought a new position in Enterprise Financial Services during the 3rd quarter worth approximately $67,000. Allspring Global Investments Holdings LLC raised its holdings in Enterprise Financial Services by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,686 shares of the bank’s stock worth $138,000 after purchasing an additional 466 shares during the last quarter. Strs Ohio increased its stake in shares of Enterprise Financial Services by 9.5% in the 4th quarter. Strs Ohio now owns 4,600 shares of the bank’s stock valued at $205,000 after acquiring an additional 400 shares in the last quarter. Finally, Dakota Wealth Management bought a new stake in shares of Enterprise Financial Services in the 3rd quarter valued at $201,000. Institutional investors own 72.21% of the company’s stock.

Enterprise Financial Services Price Performance

Shares of NASDAQ:EFSC opened at $38.89 on Friday. The company’s 50-day moving average is $39.39 and its 200 day moving average is $40.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $1.46 billion, a P/E ratio of 8.33 and a beta of 0.99. Enterprise Financial Services Corp has a fifty-two week low of $32.97 and a fifty-two week high of $46.17.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $166.18 million for the quarter, compared to the consensus estimate of $157.53 million. Enterprise Financial Services had a net margin of 20.60% and a return on equity of 11.50%. On average, equities research analysts forecast that Enterprise Financial Services Corp will post 4.36 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.26 dividend. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, June 14th. Enterprise Financial Services’s payout ratio is 21.41%.

Analysts Set New Price Targets

EFSC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Enterprise Financial Services from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Wednesday. DA Davidson reduced their price target on shares of Enterprise Financial Services from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Piper Sandler reduced their price target on shares of Enterprise Financial Services from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.75.

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.