Spinnaker Trust Invests $1.69 Million in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Spinnaker Trust bought a new position in Enterprise Bancorp, Inc. (NASDAQ:EBTC) in the 4th quarter, HoldingsChannel reports. The fund bought 42,728 shares of the savings and loans company’s stock, valued at approximately $1,689,000.

Several other hedge funds and other institutional investors have also modified their holdings of EBTC. Wellington Management Group LLP acquired a new stake in shares of Enterprise Bancorp in the third quarter worth $2,043,000. ABC Arbitrage SA acquired a new stake in shares of Enterprise Bancorp in the fourth quarter worth $2,342,000. Assenagon Asset Management S.A. boosted its position in shares of Enterprise Bancorp by 102.2% in the third 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. Siena Capital Partners GP LLC boosted its position in shares of Enterprise Bancorp by 9.7% in the third quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company’s stock worth $4,771,000 after buying an additional 13,222 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Enterprise Bancorp by 170.4% in the third quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock worth $664,000 after buying an additional 13,084 shares during the period. Institutional investors and hedge funds own 38.93% of the company’s stock.

Enterprise Bancorp Stock Performance

Shares of NASDAQ EBTC opened at $43.05 on Friday. The business’s 50-day moving average price is $41.21 and its two-hundred day moving average price is $35.27. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. Enterprise Bancorp, Inc. has a one year low of $22.60 and a one year high of $44.41. The company has a market capitalization of $535.11 million, a P/E ratio of 13.80 and a beta of 0.54.

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 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 declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.32%. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, February 10th. Enterprise Bancorp’s payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

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

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.