Enterprise Bancorp (NASDAQ:EBTC) Sets New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Enterprise Bancorp in a research report on Wednesday. They set a “hold” rating on the stock.

Enterprise Bancorp Trading Down 1.4 %

The stock has a market cap of $544.06 million, a price-to-earnings ratio of 14.03 and a beta of 0.54. The business’s 50 day simple moving average is $40.55 and its 200 day simple moving average is $34.78. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

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 business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.25 dividend. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, February 10th. Enterprise Bancorp’s dividend payout ratio is currently 30.77%.

Hedge Funds Weigh In On Enterprise Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP bought a new position in Enterprise Bancorp during the 3rd quarter worth $2,043,000. ABC Arbitrage SA bought a new position in Enterprise Bancorp during the fourth quarter worth about $2,342,000. Spinnaker Trust acquired a new stake in Enterprise Bancorp in the 4th quarter worth about $1,689,000. Assenagon Asset Management S.A. grew its position in shares of 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 worth $2,096,000 after purchasing an additional 33,153 shares in the last quarter. Finally, Siena Capital Partners GP LLC increased its holdings in shares of Enterprise Bancorp by 9.7% during 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 purchasing an additional 13,222 shares during the period. Institutional investors and hedge funds 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.