Enterprise Bancorp, Inc. (NASDAQ:EBTC) Short Interest Up 34.6% in September

Enterprise Bancorp, Inc. (NASDAQ:EBTC) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 80,500 shares, an increase of 34.6% from the September 15th total of 59,800 shares. Based on an average daily volume of 23,400 shares, the days-to-cover ratio is presently 3.4 days. Currently, 0.9% of the company’s stock are short sold.

Enterprise Bancorp Stock Performance

Shares of Enterprise Bancorp stock traded up $0.88 during trading on Tuesday, hitting $33.32. 20,981 shares of the company’s stock traded hands, compared to its average volume of 22,765. The stock has a market capitalization of $412.34 million, a P/E ratio of 11.45 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.92 and a quick ratio of 0.92. Enterprise Bancorp has a 1 year low of $22.60 and a 1 year high of $34.10. The business has a 50-day simple moving average of $30.40 and a 200-day simple moving average of $26.97.

Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.77 earnings per share (EPS) for the quarter. Enterprise Bancorp had a return on equity of 10.94% and a net margin of 14.99%. The company had revenue of $41.79 million during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new position in Enterprise Bancorp during the second quarter valued at $807,000. Quadrature Capital Ltd purchased a new position in shares of Enterprise Bancorp in the 1st quarter worth approximately $526,000. Vanguard Group Inc. increased its position in shares of Enterprise Bancorp by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 454,647 shares of the savings and loans company’s stock valued at $11,807,000 after purchasing an additional 19,918 shares during the last quarter. American Century Companies Inc. raised its holdings in Enterprise Bancorp by 35.4% during the 2nd quarter. American Century Companies Inc. now owns 55,751 shares of the savings and loans company’s stock valued at $1,387,000 after buying an additional 14,563 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Enterprise Bancorp by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 353,592 shares of the savings and loans company’s stock worth $8,797,000 after buying an additional 8,216 shares during the last quarter. Institutional investors own 38.93% of the company’s stock.

Enterprise Bancorp Company Profile

Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that engages in the provision of 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.