Phocas Financial Corp. Has $5.83 Million Stock Position in Enterprise Financial Services Corp (NASDAQ:EFSC)

Phocas Financial Corp. decreased its holdings in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 5.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 113,713 shares of the bank’s stock after selling 7,124 shares during the period. Phocas Financial Corp.’s holdings in Enterprise Financial Services were worth $5,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EFSC. SG Americas Securities LLC bought a new position in Enterprise Financial Services during the first quarter worth about $178,000. ProShare Advisors LLC boosted its holdings in shares of Enterprise Financial Services by 8.6% in the first quarter. ProShare Advisors LLC now owns 6,525 shares of the bank’s stock valued at $265,000 after buying an additional 515 shares during the period. Vanguard Group Inc. increased its position in shares of Enterprise Financial Services by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,020,424 shares of the bank’s stock worth $81,948,000 after acquiring an additional 25,576 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Enterprise Financial Services during the first quarter worth $239,000. Finally, EntryPoint Capital LLC lifted its position in Enterprise Financial Services by 87.4% in the 1st quarter. EntryPoint Capital LLC now owns 3,927 shares of the bank’s stock valued at $159,000 after acquiring an additional 1,831 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Richard Sanborn sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.56, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by company insiders.

Enterprise Financial Services Trading Down 0.4 %

NASDAQ EFSC opened at $58.58 on Tuesday. The company 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 12 month low of $36.73 and a 12 month high of $61.68. The stock has a 50 day moving average of $52.91 and a 200-day moving average of $47.24. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27.

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

Enterprise Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.27. Enterprise Financial Services’s payout ratio is 22.88%.

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.