Enterprise Bancorp, Inc. (NASDAQ:EBTC) Plans $0.24 Quarterly Dividend

Enterprise Bancorp, Inc. (NASDAQ:EBTC) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.24 per share by the savings and loans company on Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, May 10th.

Enterprise Bancorp has raised its dividend by an average of 9.5% per year over the last three years and has raised its dividend annually for the last 18 consecutive years.

Enterprise Bancorp Stock Performance

Shares of EBTC opened at $23.68 on Thursday. The firm has a fifty day moving average of $25.87 and a 200-day moving average of $27.60. The company has a market cap of $290.79 million, a price-to-earnings ratio of 7.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.89 and a current ratio of 0.89. Enterprise Bancorp has a 1 year low of $23.01 and a 1 year high of $34.10.

Enterprise Bancorp (NASDAQ:EBTC) last issued its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.64 earnings per share for the quarter. Enterprise Bancorp had a net margin of 17.41% and a return on equity of 12.20%. The firm had revenue of $42.07 million for the quarter.

Insider Activity

In other Enterprise Bancorp news, Director Michael T. Putziger bought 1,755 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average cost of $27.46 per share, for a total transaction of $48,192.30. Following the transaction, the director now directly owns 206,075 shares in the company, valued at $5,658,819.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.69% of the company’s stock.

Institutional Investors Weigh In On Enterprise Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EBTC. Captrust Financial Advisors acquired a new stake in shares of Enterprise Bancorp in the first quarter valued at $19,516,000. BlackRock Inc. increased its holdings in shares of Enterprise Bancorp by 10.8% in the second quarter. BlackRock Inc. now owns 691,689 shares of the savings and loans company’s stock valued at $20,017,000 after buying an additional 67,406 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Enterprise Bancorp during the 1st quarter valued at $1,757,000. The Manufacturers Life Insurance Company acquired a new position in shares of Enterprise Bancorp in the 4th quarter worth $1,257,000. Finally, American Century Companies Inc. purchased a new stake in shares of Enterprise Bancorp during the first quarter valued at $720,000. Institutional investors 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.