Enterprise Bancorp (NASDAQ:EBTC) Sets New 1-Year High – Here’s Why

Enterprise Bancorp, Inc. (NASDAQ:EBTC)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.24 and last traded at $44.05, with a volume of 12205 shares traded. The stock had previously closed at $43.60.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Enterprise Bancorp in a research report on Wednesday. They issued a “hold” rating for the company.

Enterprise Bancorp Price Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $546.92 million, a PE ratio of 14.10 and a beta of 0.54. The business’s 50-day moving average price is $40.25 and its 200 day moving average price is $34.60.

Enterprise Bancorp (NASDAQ:EBTC) last announced its earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 2.27%. Enterprise Bancorp’s dividend payout ratio is 30.77%.

Institutional Investors Weigh In On Enterprise Bancorp

A number of institutional investors have recently made changes to their positions in EBTC. Private Advisor Group LLC purchased a new stake in Enterprise Bancorp during the 3rd quarter valued at $212,000. Wellington Management Group LLP bought a new position in shares of Enterprise Bancorp during the third quarter valued at about $2,043,000. State Street Corp boosted its holdings in shares of Enterprise Bancorp by 1.7% during the third quarter. State Street Corp now owns 200,176 shares of the savings and loans company’s stock worth $6,398,000 after purchasing an additional 3,257 shares during the period. Barclays PLC grew its stake in shares of Enterprise Bancorp by 69.6% in the third 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, Assenagon Asset Management S.A. increased 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 valued at $2,096,000 after purchasing an additional 33,153 shares during the period. Hedge funds and other institutional investors 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.