Enterprise Bancorp (NASDAQ:EBTC) Stock Price Crosses Below Two Hundred Day Moving Average of $39.89

Shares of Enterprise Bancorp, Inc. (NASDAQ:EBTCGet Rating) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.89 and traded as low as $32.76. Enterprise Bancorp shares last traded at $32.96, with a volume of 8,872 shares trading hands.

Separately, StockNews.com began coverage on Enterprise Bancorp in a report on Thursday, March 31st. They set a “hold” rating on the stock.

The firm’s 50 day moving average price is $37.31 and its 200-day moving average price is $39.81. The firm has a market cap of $398.70 million, a price-to-earnings ratio of 9.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.82.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Wednesday, May 11th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, May 10th. This represents a $0.82 annualized dividend and a dividend yield of 2.49%. Enterprise Bancorp’s payout ratio is 23.56%.

In other news, Director Michael T. Putziger bought 976 shares of Enterprise Bancorp stock in a transaction that occurred on Tuesday, March 1st. The stock was purchased at an average cost of $40.41 per share, with a total value of $39,440.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.81% of the company’s stock.

A number of hedge funds have recently modified their holdings of EBTC. First Trust Advisors LP lifted its holdings in shares of Enterprise Bancorp by 9.8% during the first quarter. First Trust Advisors LP now owns 6,127 shares of the savings and loans company’s stock valued at $246,000 after acquiring an additional 546 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Enterprise Bancorp by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 262,813 shares of the savings and loans company’s stock valued at $10,543,000 after acquiring an additional 4,823 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of Enterprise Bancorp by 3.5% during the first quarter. Panagora Asset Management Inc. now owns 33,034 shares of the savings and loans company’s stock valued at $1,325,000 after acquiring an additional 1,103 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Enterprise Bancorp by 57.0% during the first quarter. MetLife Investment Management LLC now owns 5,265 shares of the savings and loans company’s stock valued at $211,000 after acquiring an additional 1,911 shares during the period. Finally, BHZ Capital Management LP lifted its holdings in shares of Enterprise Bancorp by 5.3% during the first quarter. BHZ Capital Management LP now owns 65,145 shares of the savings and loans company’s stock valued at $2,614,000 after acquiring an additional 3,261 shares during the period. 25.52% of the stock is owned by hedge funds and other institutional investors.

Enterprise Bancorp Company Profile (NASDAQ:EBTC)

Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company that provides commercial banking products and services. It offers commercial and retail deposit products, including checking accounts, limited-transactional savings and money market accounts, commercial sweep products, and term certificates of deposit.

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