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

StockNews.com assumed coverage on shares of Enterprise Bancorp (NASDAQ:EBTC) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the savings and loans company’s stock.

Enterprise Bancorp Price Performance

Enterprise Bancorp stock opened at $33.77 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The stock has a market cap of $420.74 million, a P/E ratio of 10.82 and a beta of 0.56. The company has a 50-day moving average price of $40.02 and a 200 day moving average price of $38.13. Enterprise Bancorp has a 12-month low of $22.60 and a 12-month high of $44.41.

Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share (EPS) for the quarter. Enterprise Bancorp had a net margin of 15.30% and a return on equity of 11.15%.

Enterprise Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Enterprise Bancorp’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, February 10th. Enterprise Bancorp’s payout ratio is 32.05%.

Hedge Funds Weigh In On Enterprise Bancorp

Hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its holdings in Enterprise Bancorp by 36.6% in the fourth quarter. Picton Mahoney Asset Management now owns 884 shares of the savings and loans company’s stock valued at $35,000 after purchasing an additional 237 shares during the period. SG Americas Securities LLC raised its position in Enterprise Bancorp by 27.3% in the 4th quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company’s stock valued at $175,000 after purchasing an additional 948 shares in the last quarter. Harbor Group Inc. purchased a new position in shares of Enterprise Bancorp in the 4th quarter valued at about $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Enterprise Bancorp by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,683 shares of the savings and loans company’s stock worth $225,000 after buying an additional 301 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Enterprise Bancorp by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 5,809 shares of the savings and loans company’s stock worth $230,000 after buying an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 38.93% of the company’s stock.

About Enterprise Bancorp

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.