StockNews.com Begins Coverage on Enterprise Bancorp (NASDAQ:EBTC)

Equities research analysts at StockNews.com assumed coverage on shares of Enterprise Bancorp (NASDAQ:EBTC) in a research note issued to investors on Friday. The firm set a “hold” rating on the savings and loans company’s stock.

Enterprise Bancorp Stock Performance

EBTC stock opened at $39.72 on Friday. Enterprise Bancorp has a twelve month low of $22.60 and a twelve month high of $44.08. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The company has a market cap of $493.68 million, a P/E ratio of 13.70 and a beta of 0.56. The business’s fifty day moving average is $37.05 and its 200-day moving average is $31.38.

Institutional Trading of Enterprise Bancorp

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Enterprise Bancorp by 170.4% in the third quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock valued at $664,000 after purchasing an additional 13,084 shares in the last quarter. Barclays PLC increased its position in shares of Enterprise Bancorp by 69.6% in the 3rd quarter. Barclays PLC now owns 22,836 shares of the savings and loans company’s stock valued at $729,000 after buying an additional 9,373 shares in the last quarter. Geode Capital Management LLC raised its stake in Enterprise Bancorp by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 233,563 shares of the savings and loans company’s stock worth $7,467,000 after buying an additional 8,703 shares during the period. Wellington Management Group LLP bought a new position in Enterprise Bancorp during the third quarter worth about $2,043,000. Finally, State Street Corp grew its stake in Enterprise Bancorp by 1.7% in the third quarter. State Street Corp now owns 200,176 shares of the savings and loans company’s stock valued at $6,398,000 after acquiring an additional 3,257 shares during the period. 38.93% of the stock is currently 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 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.