Enterprise Bancorp (NASDAQ:EBTC) Cut to Sell at BidaskClub

BidaskClub cut shares of Enterprise Bancorp (NASDAQ:EBTC) from a hold rating to a sell rating in a report published on Tuesday morning, BidAskClub reports.

Shares of EBTC opened at $28.46 on Tuesday. The stock has a market capitalization of $331.13 million, a P/E ratio of 10.66 and a beta of 0.85. Enterprise Bancorp has a twelve month low of $26.85 and a twelve month high of $36.50. The company has a 50 day moving average of $29.39 and a 200-day moving average of $29.52. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12.

Enterprise Bancorp (NASDAQ:EBTC) last issued its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.66 earnings per share for the quarter. The company had revenue of $32.82 million during the quarter. Enterprise Bancorp had a net margin of 21.52% and a return on equity of 11.85%.

In other news, Chairman George L. Duncan bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average cost of $28.48 per share, with a total value of $28,480.00. Following the completion of the purchase, the chairman now owns 342,685 shares of the company’s stock, valued at $9,759,668.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 20.54% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in EBTC. Dimensional Fund Advisors LP grew its stake in shares of Enterprise Bancorp by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 206,344 shares of the savings and loans company’s stock valued at $6,636,000 after buying an additional 7,923 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Enterprise Bancorp by 2.8% in the first quarter. Rhumbline Advisers now owns 14,008 shares of the savings and loans company’s stock valued at $402,000 after buying an additional 375 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Enterprise Bancorp in the second quarter valued at $46,000. Coastal Capital Group Inc. bought a new position in shares of Enterprise Bancorp in the second quarter valued at $83,000. Finally, Acadian Asset Management LLC grew its stake in shares of Enterprise Bancorp by 19.5% in the second quarter. Acadian Asset Management LLC now owns 2,718 shares of the savings and loans company’s stock valued at $86,000 after buying an additional 443 shares in the last quarter. 20.71% of the stock is owned by institutional investors and hedge funds.

Enterprise Bancorp Company Profile

Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that provides various banking products and services primarily in the greater Merrimack Valley and North Central regions of Massachusetts and Southern New Hampshire. The company offers commercial checking, business and municipal savings accounts, term certificates of deposit, money market and business sweep accounts, interest on lawyers trust accounts, escrow management accounts, personal checking accounts, savings accounts, and individual retirement accounts, as well as checking and simplified employee pension accounts.

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