Bank of America Corp DE Has $17.94 Million Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

Bank of America Corp DE trimmed its holdings in Enterprise Financial Services Corp (NASDAQ:EFSC) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 318,111 shares of the bank’s stock after selling 4,469 shares during the period. Bank of America Corp DE’s holdings in Enterprise Financial Services were worth $17,941,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in Enterprise Financial Services by 11.4% in the 4th quarter. Ameriprise Financial Inc. now owns 83,179 shares of the bank’s stock valued at $4,691,000 after acquiring an additional 8,525 shares during the period. Aptus Capital Advisors LLC raised its position in shares of Enterprise Financial Services by 40.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 166,907 shares of the bank’s stock valued at $9,414,000 after purchasing an additional 48,367 shares during the period. Northern Trust Corp lifted its stake in shares of Enterprise Financial Services by 4.7% during the 4th quarter. Northern Trust Corp now owns 380,133 shares of the bank’s stock worth $21,440,000 after buying an additional 17,185 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Enterprise Financial Services by 6.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 20,113 shares of the bank’s stock worth $1,134,000 after buying an additional 1,239 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Enterprise Financial Services by 10.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,268 shares of the bank’s stock worth $1,651,000 after buying an additional 2,693 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Enterprise Financial Services Stock Down 0.2%

EFSC opened at $54.44 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 stock has a fifty day moving average of $52.16 and a 200-day moving average of $56.16. Enterprise Financial Services Corp has a fifty-two week low of $37.28 and a fifty-two week high of $63.13. The company has a market capitalization of $2.01 billion, a P/E ratio of 11.25 and a beta of 0.85.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings data on Monday, April 28th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.14. The business had revenue of $18.48 million during the quarter, compared to analysts’ expectations of $162.83 million. Enterprise Financial Services had a net margin of 20.12% and a return on equity of 10.94%. On average, equities analysts expect that Enterprise Financial Services Corp will post 4.97 EPS for the current year.

Enterprise Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, June 16th. Enterprise Financial Services’s payout ratio is presently 23.53%.

Insider Activity at Enterprise Financial Services

In other news, Director James M. Havel sold 5,525 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $58.47, for a total transaction of $323,046.75. Following the completion of the sale, the director now owns 15,447 shares of the company’s stock, valued at approximately $903,186.09. This represents a 26.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Brian Lally sold 4,689 shares of Enterprise Financial Services stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $55.18, for a total transaction of $258,739.02. Following the completion of the transaction, the chief executive officer now directly owns 106,974 shares in the company, valued at $5,902,825.32. This trade represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,614 shares of company stock worth $603,790. Company insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

EFSC has been the topic of several research analyst reports. DA Davidson lowered their price target on shares of Enterprise Financial Services from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Keefe, Bruyette & Woods decreased their target price on Enterprise Financial Services from $69.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th.

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.