Empowered Funds LLC Boosts Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

Empowered Funds LLC grew its position in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,282 shares of the bank’s stock after buying an additional 5,954 shares during the quarter. Empowered Funds LLC owned 0.33% of Enterprise Financial Services worth $6,953,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in Enterprise Financial Services by 7.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,141 shares of the bank’s stock valued at $403,000 after purchasing an additional 502 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Enterprise Financial Services in the fourth quarter valued at approximately $29,000. Harbor Capital Advisors Inc. grew its holdings in Enterprise Financial Services by 6.0% during the third quarter. Harbor Capital Advisors Inc. now owns 11,339 shares of the bank’s stock worth $581,000 after acquiring an additional 645 shares during the period. FMR LLC raised its position in Enterprise Financial Services by 34.2% in the third quarter. FMR LLC now owns 2,560 shares of the bank’s stock worth $131,000 after acquiring an additional 653 shares in the last quarter. Finally, Quarry LP raised its position in Enterprise Financial Services by 2,593.5% in the third quarter. Quarry LP now owns 835 shares of the bank’s stock worth $43,000 after acquiring an additional 804 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enterprise Financial Services Price Performance

NASDAQ:EFSC opened at $59.95 on Tuesday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 12.39 and a beta of 0.99. Enterprise Financial Services Corp has a 12-month low of $37.28 and a 12-month high of $63.13. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $57.85 and its two-hundred day moving average is $54.68.

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

Enterprise Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.28. Enterprise Financial Services’s payout ratio is currently 23.14%.

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.