Bank of Nova Scotia purchased a new position in Enterprise Financial Services Corp (NASDAQ:EFSC – Get Rating) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,863 shares of the bank’s stock, valued at approximately $287,000.
Other hedge funds have also bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in Enterprise Financial Services in the third quarter worth about $54,000. Hennion & Walsh Asset Management Inc. acquired a new position in Enterprise Financial Services in the fourth quarter valued at approximately $202,000. Quadrature Capital Ltd acquired a new position in Enterprise Financial Services in the third quarter valued at approximately $353,000. Jennison Associates LLC boosted its stake in Enterprise Financial Services by 20.0% in the fourth quarter. Jennison Associates LLC now owns 1,301,703 shares of the bank’s stock valued at $63,731,000 after acquiring an additional 217,302 shares during the period. Finally, Busey Wealth Management acquired a new position in Enterprise Financial Services in the fourth quarter valued at approximately $425,000. 68.87% of the stock is currently owned by institutional investors and hedge funds.
Enterprise Financial Services Stock Performance
Shares of NASDAQ EFSC opened at $41.21 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a 50 day simple moving average of $42.38 and a 200-day simple moving average of $48.29. The company has a market cap of $1.54 billion, a PE ratio of 7.43 and a beta of 1.12. Enterprise Financial Services Corp has a 12-month low of $36.16 and a 12-month high of $56.35.
Enterprise Financial Services Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.00 annualized dividend and a yield of 2.43%. Enterprise Financial Services’s payout ratio is 18.02%.
Insider Buying and Selling
In other news, Director Lyne Andrich bought 1,840 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were purchased at an average price of $54.35 per share, with a total value of $100,004.00. Following the completion of the acquisition, the director now directly owns 2,302 shares in the company, valued at $125,113.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Lyne Andrich bought 1,840 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were purchased at an average price of $54.35 per share, with a total value of $100,004.00. Following the completion of the acquisition, the director now directly owns 2,302 shares in the company, valued at $125,113.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen P. Marsh purchased 2,473 shares of the company’s stock in a transaction on Friday, May 19th. The stock was bought at an average cost of $40.40 per share, for a total transaction of $99,909.20. Following the acquisition, the director now directly owns 47,540 shares of the company’s stock, valued at approximately $1,920,616. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Piper Sandler decreased their target price on Enterprise Financial Services from $54.00 to $48.00 in a research note on Wednesday, April 26th. Raymond James decreased their target price on Enterprise Financial Services from $52.00 to $50.00 in a research note on Wednesday, April 26th. Finally, StockNews.com assumed coverage on Enterprise Financial Services in a research report on Thursday, May 18th. They set a “hold” rating for the company.
About Enterprise Financial Services
Enterprise Financial Services Corp. operates as a financial holding company. The firm engages in the provision of business and personal banking services and wealth management services. It also offers lending services which include commercial and industrial commercial real estate, real estate construction and development, residential real estate and consumer loans.
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