Enterprise Bancorp (EBTC) Lowered to “Hold” at BidaskClub

BidaskClub downgraded shares of Enterprise Bancorp (NASDAQ:EBTC) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Enterprise Bancorp (NASDAQ:EBTC) traded down $0.66 during trading on Thursday, reaching $34.69. The company had a trading volume of 6,232 shares, compared to its average volume of 12,992. Enterprise Bancorp has a twelve month low of $29.02 and a twelve month high of $39.25. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $408.87, a PE ratio of 19.07 and a beta of 0.95.

Enterprise Bancorp (NASDAQ:EBTC) last posted its earnings results on Thursday, October 19th. The savings and loans company reported $0.47 EPS for the quarter. Enterprise Bancorp had a return on equity of 9.67% and a net margin of 18.64%. The business had revenue of $28.58 million during the quarter.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, November 9th. Enterprise Bancorp’s payout ratio is 29.03%.

In related news, Chairman George L. Duncan sold 4,580 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $37.58, for a total transaction of $172,116.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ken S. Ansin sold 2,300 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $33.40, for a total value of $76,820.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,606 shares of company stock valued at $417,082. 19.68% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of EBTC. Cetera Investment Advisers purchased a new position in shares of Enterprise Bancorp in the 2nd quarter worth about $1,198,000. First Trust Advisors LP purchased a new position in shares of Enterprise Bancorp in the 2nd quarter worth about $644,000. State Street Corp boosted its holdings in shares of Enterprise Bancorp by 9.4% in the 2nd quarter. State Street Corp now owns 153,399 shares of the savings and loans company’s stock worth $5,451,000 after purchasing an additional 13,123 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Enterprise Bancorp in the 2nd quarter worth about $406,000. Finally, Northern Trust Corp boosted its holdings in shares of Enterprise Bancorp by 11.7% in the 2nd quarter. Northern Trust Corp now owns 105,419 shares of the savings and loans company’s stock worth $3,747,000 after purchasing an additional 11,070 shares in the last quarter. Hedge funds and other institutional investors own 19.80% of the company’s stock.

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About Enterprise Bancorp

Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company (the Bank). The Company is engaged in the business of gathering deposits from the general public and investing primarily in loans and investment securities and utilizing the resulting cash flows to conduct operations, expand the branch network, and pay dividends to stockholders.

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