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

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

Enterprise Bancorp Stock Performance

Shares of EBTC stock opened at $39.76 on Monday. The company’s 50 day moving average is $41.45 and its 200 day moving average is $37.34. 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 firm has a market cap of $495.37 million, a price-to-earnings ratio of 12.74 and a beta of 0.49. Enterprise Bancorp has a 52-week low of $22.60 and a 52-week 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 return on equity of 11.15% and a net margin of 15.30%.

Enterprise Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Monday, February 10th. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. Enterprise Bancorp’s dividend payout ratio is currently 32.05%.

Institutional Investors Weigh In On Enterprise Bancorp

A number of large investors have recently modified their holdings of EBTC. Picton Mahoney Asset Management raised its holdings in shares of 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 worth $35,000 after buying an additional 237 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enterprise Bancorp by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,683 shares of the savings and loans company’s stock worth $225,000 after acquiring an additional 301 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of Enterprise Bancorp by 3.3% in the fourth quarter. Martingale Asset Management L P now owns 26,491 shares of the savings and loans company’s stock worth $1,047,000 after purchasing an additional 850 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Enterprise Bancorp by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company’s stock worth $175,000 after purchasing an additional 948 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Enterprise Bancorp by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,809 shares of the savings and loans company’s stock valued at $230,000 after buying an additional 1,267 shares during the last quarter. Hedge funds and other 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.