Jennison Associates LLC Raises Stake in Enterprise Financial Services Corp (NASDAQ:EFSC)

Jennison Associates LLC grew its position in Enterprise Financial Services Corp (NASDAQ:EFSC) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 566,780 shares of the bank’s stock after purchasing an additional 125,150 shares during the quarter. Jennison Associates LLC owned approximately 1.53% of Enterprise Financial Services worth $31,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Enterprise Financial Services by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,177 shares of the bank’s stock worth $785,000 after buying an additional 819 shares during the period. Creative Planning boosted its stake in shares of Enterprise Financial Services by 10.4% in the second quarter. Creative Planning now owns 37,030 shares of the bank’s stock worth $1,515,000 after acquiring an additional 3,474 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Enterprise Financial Services during the third quarter worth about $522,000. DekaBank Deutsche Girozentrale raised its stake in Enterprise Financial Services by 55.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 10,317 shares of the bank’s stock valued at $513,000 after purchasing an additional 3,691 shares during the period. Finally, Semanteon Capital Management LP bought a new stake in Enterprise Financial Services during the 3rd quarter valued at approximately $267,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Enterprise Financial Services Stock Performance

NASDAQ:EFSC opened at $60.64 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 12.53 and a beta of 0.99. Enterprise Financial Services Corp has a 1 year low of $37.28 and a 1 year high of $63.13. The stock’s 50 day simple moving average is $57.82 and its two-hundred day simple moving average is $54.42.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings results on Monday, January 27th. The bank reported $1.32 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that Enterprise Financial Services Corp will post 4.84 earnings per share for the current fiscal year.

Enterprise Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.29 dividend. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.91%. Enterprise Financial Services’s dividend payout ratio (DPR) is presently 23.14%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EFSC. DA Davidson increased their price objective on shares of Enterprise Financial Services from $67.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $70.00 target price (up from $68.00) on shares of Enterprise Financial Services in a research note on Wednesday, January 29th. Finally, Piper Sandler boosted their price target on shares of Enterprise Financial Services from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd.

Enterprise Financial Services Profile

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.