Enterprise Bancorp (NASDAQ:EBTC) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Enterprise Bancorp (NASDAQ:EBTC) from a sell rating to a hold rating in a report published on Tuesday, BidAskClub reports.

EBTC opened at $32.40 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $373.51 million, a price-to-earnings ratio of 12.03 and a beta of 0.87. The firm has a 50 day simple moving average of $28.97 and a 200 day simple moving average of $29.56. Enterprise Bancorp has a fifty-two week low of $26.85 and a fifty-two week high of $36.50.

Enterprise Bancorp (NASDAQ:EBTC) last posted its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.66 earnings per share for the quarter. The business had revenue of $32.82 million during the quarter. Enterprise Bancorp had a net margin of 21.52% and a return on equity of 11.85%.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Monday, August 12th.

In other Enterprise Bancorp news, Chairman George L. Duncan purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average cost of $28.48 per share, with a total value of $28,480.00. Following the completion of the purchase, the chairman now directly owns 342,685 shares in the company, valued at approximately $9,759,668.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.54% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in shares of Enterprise Bancorp by 1.7% during the second quarter. Northern Trust Corp now owns 117,720 shares of the savings and loans company’s stock worth $3,733,000 after buying an additional 2,004 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Enterprise Bancorp by 4.8% during the second quarter. Renaissance Technologies LLC now owns 47,248 shares of the savings and loans company’s stock valued at $1,498,000 after purchasing an additional 2,148 shares during the period. Banc Funds Co. LLC grew its holdings in Enterprise Bancorp by 5.1% during the second quarter. Banc Funds Co. LLC now owns 267,993 shares of the savings and loans company’s stock valued at $8,498,000 after purchasing an additional 12,901 shares during the period. Context BH Capital Management LP grew its holdings in Enterprise Bancorp by 7.7% during the second quarter. Context BH Capital Management LP now owns 48,418 shares of the savings and loans company’s stock valued at $1,535,000 after purchasing an additional 3,468 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in Enterprise Bancorp during the second quarter valued at approximately $271,000. 20.71% of the stock is owned by institutional investors and hedge funds.

Enterprise Bancorp Company Profile

Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that provides various banking products and services primarily in the greater Merrimack Valley and North Central regions of Massachusetts and Southern New Hampshire. The company offers commercial checking, business and municipal savings accounts, term certificates of deposit, money market and business sweep accounts, interest on lawyers trust accounts, escrow management accounts, personal checking accounts, savings accounts, and individual retirement accounts, as well as checking and simplified employee pension accounts.

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