BidaskClub Lowers Enterprise Bancorp (EBTC) to Buy

BidaskClub cut shares of Enterprise Bancorp (NASDAQ:EBTC) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

Enterprise Bancorp traded up $0.01, reaching $36.66, during trading hours on Wednesday, MarketBeat reports. 6,048 shares of the stock were exchanged, compared to its average volume of 5,805. The company has a quick ratio of 0.92, a current ratio of 0.89 and a debt-to-equity ratio of 0.06. Enterprise Bancorp has a 52 week low of $36.13 and a 52 week high of $36.85. The company has a market cap of $428.05 million, a PE ratio of 16.89 and a beta of 0.82.

Enterprise Bancorp (NASDAQ:EBTC) last released its earnings results on Thursday, April 19th. The savings and loans company reported $0.58 EPS for the quarter. Enterprise Bancorp had a return on equity of 11.03% and a net margin of 16.55%. The company had revenue of $29.81 million for the quarter.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 11th will be issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, May 10th.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Enterprise Bancorp by 0.9% during the 4th quarter. BlackRock Inc. now owns 446,706 shares of the savings and loans company’s stock worth $15,210,000 after buying an additional 3,903 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Enterprise Bancorp by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 171,658 shares of the savings and loans company’s stock worth $6,058,000 after buying an additional 11,559 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Enterprise Bancorp by 14.1% during the 4th quarter. Bank of New York Mellon Corp now owns 48,975 shares of the savings and loans company’s stock worth $1,668,000 after buying an additional 6,065 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Enterprise Bancorp by 11.7% during the 4th quarter. Renaissance Technologies LLC now owns 28,048 shares of the savings and loans company’s stock worth $955,000 after buying an additional 2,948 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Enterprise Bancorp by 141.9% in the 4th quarter. Deutsche Bank AG now owns 24,873 shares of the savings and loans company’s stock worth $845,000 after purchasing an additional 14,589 shares during the last quarter. 19.89% of the stock is currently owned by institutional investors.

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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