July 16, 2024

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Morgan Stanley Decreases Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

4 min read
Morgan Stanley Decreases Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)
Morgan Stanley Decreases Holdings in Enterprise Financial Services Corp (NASDAQ:EFSC)

Morgan Stanley decreased its stake in shares of Enterprise Financial Services Corp (NASDAQ:EFSC) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,433 shares of the bank’s stock after selling 9,095 shares during the quarter. Morgan Stanley owned about 0.31% of Enterprise Financial Services worth $2,193,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EFSC. Vanguard Group Inc. grew its position in Enterprise Financial Services by 0.3% during the second quarter. Vanguard Group Inc. now owns 1,243,835 shares of the bank’s stock valued at $38,709,000 after buying an additional 3,653 shares during the period. PL Capital Advisors LLC grew its holdings in shares of Enterprise Financial Services by 8.4% in the third quarter. PL Capital Advisors LLC now owns 642,646 shares of the bank’s stock valued at $17,525,000 after purchasing an additional 50,000 shares in the last quarter. Jennison Associates LLC lifted its stake in Enterprise Financial Services by 1.8% in the third quarter. Jennison Associates LLC now owns 434,939 shares of the bank’s stock worth $11,861,000 after acquiring an additional 7,601 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Enterprise Financial Services by 1.9% in the third quarter. New York State Common Retirement Fund now owns 425,367 shares of the bank’s stock worth $11,600,000 after acquiring an additional 8,047 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Enterprise Financial Services by 63.1% in the third quarter. Segall Bryant & Hamill LLC now owns 425,116 shares of the bank’s stock worth $11,591,000 after acquiring an additional 164,475 shares during the last quarter. Institutional investors and hedge funds own 63.70% of the company’s stock.

EFSC opened at $37.03 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.95 and a current ratio of 0.96. Enterprise Financial Services Corp has a 1 year low of $21.70 and a 1 year high of $48.81. The firm has a 50 day moving average price of $35.17 and a 200 day moving average price of $31.29. The company has a market cap of $970.56 million, a PE ratio of 13.18 and a beta of 1.29.

Enterprise Financial Services (NASDAQ:EFSC) last released its quarterly earnings results on Monday, October 19th. The bank reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.24). The company had revenue of $75.98 million for the quarter, compared to analyst estimates of $78.93 million. Enterprise Financial Services had a return on equity of 8.61% and a net margin of 21.40%. On average, sell-side analysts predict that Enterprise Financial Services Corp will post 2.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.94%. The ex-dividend date was Monday, December 14th. Enterprise Financial Services’s dividend payout ratio is currently 17.65%.

A number of brokerages recently issued reports on EFSC. TheStreet upgraded shares of Enterprise Financial Services from a “c+” rating to a “b-” rating in a research note on Wednesday, November 11th. BidaskClub upgraded shares of Enterprise Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, December 10th. Raymond James boosted their price objective on shares of Enterprise Financial Services from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, December 1st. Finally, Zacks Investment Research cut shares of Enterprise Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, December 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.00.

In other news, Director James F. Deutsch sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $35.41, for a total transaction of $1,770,500.00. Following the sale, the director now directly owns 41 shares in the company, valued at $1,451.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James F. Deutsch sold 1,647 shares of the business’s stock in a transaction that occurred on Monday, November 23rd. The shares were sold at an average price of $35.00, for a total value of $57,645.00. Following the sale, the director now owns 41 shares in the company, valued at $1,435. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,980 shares of company stock worth $3,416,984. Company insiders own 9.00% of the company’s stock.

Enterprise Financial Services Profile

Enterprise Financial Services Corp operates as the financial holding company for Enterprise Bank & Trust that offers banking and wealth management services to individuals and corporate customers. The company offers checking and savings account, and certificates of deposit. It also provides commercial and industrial, commercial real estate, real estate construction and development, residential real estate, and consumer loans.

See Also: What does an outperform rating mean?

Institutional Ownership by Quarter for Enterprise Financial Services (NASDAQ:EFSC)



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