Enterprise Bancorp (NASDAQ:EBTC) Upgraded at BidaskClub

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

EBTC opened at $32.41 on Tuesday. Enterprise Bancorp has a fifty-two week low of $26.85 and a fifty-two week high of $36.50. 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 firm’s fifty day moving average price is $28.98 and its two-hundred day moving average price is $29.56. The company has a market capitalization of $373.51 million, a P/E ratio of 12.03 and a beta of 0.87.

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. Enterprise Bancorp had a net margin of 21.52% and a return on equity of 11.85%. The firm had revenue of $32.82 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.16 per share. The ex-dividend date was Monday, August 12th. This represents a $0.64 dividend on an annualized basis and a yield of 1.97%.

In other Enterprise Bancorp news, Chairman George L. Duncan purchased 1,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were purchased at an average price of $28.48 per share, for a total transaction of $28,480.00. Following the completion of the purchase, the chairman now directly owns 342,685 shares of the company’s stock, valued at $9,759,668.80. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 20.54% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of EBTC. Bank of America Corp DE boosted its stake in Enterprise Bancorp by 80.8% during the fourth quarter. Bank of America Corp DE now owns 8,320 shares of the savings and loans company’s stock worth $268,000 after buying an additional 3,718 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Enterprise Bancorp by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 206,344 shares of the savings and loans company’s stock worth $6,636,000 after buying an additional 7,923 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Enterprise Bancorp by 605.2% during the first quarter. BNP Paribas Arbitrage SA now owns 2,017 shares of the savings and loans company’s stock worth $58,000 after buying an additional 1,731 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Enterprise Bancorp during the first quarter worth $222,000. Finally, Rhumbline Advisers boosted its stake in shares of Enterprise Bancorp by 2.8% in the 1st quarter. Rhumbline Advisers now owns 14,008 shares of the savings and loans company’s stock valued at $402,000 after purchasing an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 20.71% of the company’s stock.

About Enterprise Bancorp

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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