Corebridge Financial Inc. Decreases Stock Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

Corebridge Financial Inc. lowered its stake in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 7.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,406 shares of the bank’s stock after selling 1,390 shares during the quarter. Corebridge Financial Inc.’s holdings in Enterprise Financial Services were worth $1,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new stake in shares of Enterprise Financial Services during the fourth quarter valued at about $29,000. Quarry LP lifted its position in Enterprise Financial Services by 2,593.5% during the third quarter. Quarry LP now owns 835 shares of the bank’s stock valued at $43,000 after acquiring an additional 804 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Enterprise Financial Services during the third quarter valued at approximately $102,000. FMR LLC boosted its stake in Enterprise Financial Services by 34.2% in the third quarter. FMR LLC now owns 2,560 shares of the bank’s stock valued at $131,000 after acquiring an additional 653 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in Enterprise Financial Services in the third quarter worth $181,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. DA Davidson raised their price objective on Enterprise Financial Services from $67.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $70.00 price target (up previously from $68.00) on shares of Enterprise Financial Services in a report on Wednesday, January 29th.

Enterprise Financial Services Trading Down 2.2 %

NASDAQ EFSC opened at $47.86 on Friday. The stock has a market cap of $1.77 billion, a P/E ratio of 9.89 and a beta of 0.97. 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 Corp has a 12-month low of $37.28 and a 12-month high of $63.13. The company has a fifty day simple moving average of $57.55 and a two-hundred day simple moving average of $56.28.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings results on Monday, January 27th. The bank reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.14. Enterprise Financial Services had a return on equity of 10.94% and a net margin of 20.12%. On average, analysts forecast that Enterprise Financial Services Corp will post 4.97 earnings per share for the current year.

Enterprise Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Enterprise Financial Services’s previous quarterly dividend of $0.28. Enterprise Financial Services’s dividend payout ratio is currently 23.97%.

Insider Buying and Selling

In other Enterprise Financial Services news, Director James M. Havel sold 5,525 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $58.47, for a total transaction of $323,046.75. Following the sale, the director now directly owns 15,447 shares of the company’s stock, valued at approximately $903,186.09. This trade represents a 26.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by corporate insiders.

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.