Phocas Financial Corp. Sells 92,699 Shares of Enterprise Financial Services Corp (NASDAQ:EFSC)

Phocas Financial Corp. lessened its position in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 81.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,014 shares of the bank’s stock after selling 92,699 shares during the quarter. Phocas Financial Corp. owned approximately 0.06% of Enterprise Financial Services worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc acquired a new stake in shares of Enterprise Financial Services during the 4th quarter valued at about $29,000. Quarry LP raised its stake in Enterprise Financial Services by 2,593.5% during 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. Point72 DIFC Ltd bought a new position in shares of Enterprise Financial Services during the third quarter valued at $102,000. FMR LLC boosted its stake in shares of Enterprise Financial Services by 34.2% in the 3rd quarter. FMR LLC now owns 2,560 shares of the bank’s stock valued at $131,000 after purchasing an additional 653 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Enterprise Financial Services by 169.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,452 shares of the bank’s stock worth $177,000 after purchasing an additional 2,172 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

Enterprise Financial Services Price Performance

NASDAQ:EFSC opened at $58.51 on Wednesday. The company has a quick ratio of 0.91, a current 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 stock’s 50 day moving average price is $58.04 and its two-hundred day moving average price is $55.45. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 12.09 and a beta of 0.99.

Enterprise Financial Services (NASDAQ:EFSC) last issued its quarterly earnings data on Monday, January 27th. The bank reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.14. Enterprise Financial Services had a net margin of 20.12% and a return on equity of 10.94%. On average, analysts anticipate 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 will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.29 dividend. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.98%. Enterprise Financial Services’s dividend payout ratio is presently 23.97%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EFSC. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $70.00 price objective (up previously from $68.00) on shares of Enterprise Financial Services in a report on Wednesday, January 29th. DA Davidson lifted their target price on shares of Enterprise Financial Services from $67.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th.

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.