Enterprise Bancorp (NASDAQ:EBTC) Shares Gap Up – What’s Next?

Shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC) gapped up before the market opened on Wednesday . The stock had previously closed at $40.13, but opened at $41.34. Enterprise Bancorp shares last traded at $40.66, with a volume of 3,414 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Enterprise Bancorp in a report on Tuesday. They set a “hold” rating for the company.

Enterprise Bancorp Stock Up 1.0 %

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 company has a market capitalization of $504.95 million, a P/E ratio of 12.99 and a beta of 0.49. The firm’s 50 day moving average price is $41.56 and its two-hundred day moving average price is $37.66.

Enterprise Bancorp (NASDAQ:EBTC) last issued 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 announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.47%. 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 presently 32.05%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new stake in shares of Enterprise Bancorp in the 3rd quarter valued at approximately $2,043,000. Rhumbline Advisers lifted its stake in Enterprise Bancorp by 10.0% in the fourth quarter. Rhumbline Advisers now owns 16,009 shares of the savings and loans company’s stock valued at $633,000 after acquiring an additional 1,452 shares during the last quarter. State Street Corp grew its position in shares of Enterprise Bancorp by 1.7% in the 3rd 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. Barclays PLC increased its stake in shares of Enterprise Bancorp by 69.6% during the 3rd quarter. Barclays PLC now owns 22,836 shares of the savings and loans company’s stock worth $729,000 after purchasing an additional 9,373 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in shares of Enterprise Bancorp in the 4th quarter valued at about $2,562,000. Institutional investors and hedge funds 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.