JPMorgan Chase & Co. Sells 22,502 Shares of Enterprise Financial Services Corporation $EFSC

JPMorgan Chase & Co. reduced its position in shares of Enterprise Financial Services Corporation (NASDAQ:EFSC) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 394,320 shares of the bank’s stock after selling 22,502 shares during the period. JPMorgan Chase & Co.’s holdings in Enterprise Financial Services were worth $22,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EFSC. First Horizon Corp bought a new stake in Enterprise Financial Services in the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Enterprise Financial Services by 929.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 638 shares of the bank’s stock worth $35,000 after buying an additional 576 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Enterprise Financial Services during the 3rd quarter worth approximately $92,000. Comerica Bank boosted its stake in shares of 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 buying an additional 303 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Enterprise Financial Services by 106.0% in the 2nd quarter. Federated Hermes Inc. now owns 2,182 shares of the bank’s stock worth $120,000 after buying an additional 1,123 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Financial Services Stock Down 0.4%

EFSC opened at $54.18 on Wednesday. Enterprise Financial Services Corporation has a twelve month low of $45.22 and a twelve month high of $62.30. The company’s 50-day moving average price is $56.94 and its two-hundred day moving average price is $56.21. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 10.20 and a beta of 0.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.24.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $190.95 million for the quarter, compared to analysts’ expectations of $188.54 million. Enterprise Financial Services had a return on equity of 10.57% and a net margin of 20.15%. As a group, equities analysts expect that Enterprise Financial Services Corporation will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.4%. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, March 13th. Enterprise Financial Services’s dividend payout ratio is currently 24.86%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings raised Enterprise Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Piper Sandler boosted their price objective on Enterprise Financial Services from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Finally, DA Davidson upped their price objective on Enterprise Financial Services from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.00.

About Enterprise Financial Services

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.