Enterprise Bancorp (NASDAQ:EBTC) Now Covered by StockNews.com

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

Enterprise Bancorp Stock Performance

Shares of Enterprise Bancorp stock opened at $41.45 on Monday. The firm has a 50 day simple moving average of $38.90 and a 200 day simple moving average of $33.26. The firm has a market cap of $515.22 million, a P/E ratio of 14.29 and a beta of 0.54. Enterprise Bancorp has a fifty-two week low of $22.60 and a fifty-two week high of $44.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92.

Hedge Funds Weigh In On Enterprise Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in Enterprise Bancorp in the third quarter worth $2,043,000. Assenagon Asset Management S.A. raised its holdings in Enterprise Bancorp by 102.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 65,591 shares of the savings and loans company’s stock worth $2,096,000 after buying an additional 33,153 shares during the period. American Century Companies Inc. raised its holdings in shares of Enterprise Bancorp by 35.4% during the second quarter. American Century Companies Inc. now owns 55,751 shares of the savings and loans company’s stock worth $1,387,000 after acquiring an additional 14,563 shares during the period. Siena Capital Partners GP LLC boosted its stake in Enterprise Bancorp by 9.7% in the 3rd quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company’s stock worth $4,771,000 after purchasing an additional 13,222 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Enterprise Bancorp by 170.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock worth $664,000 after purchasing an additional 13,084 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.