Enterprise Bancorp, Inc (NASDAQ:EBTC) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 28,700 shares, a decline of 20.9% from the June 30th total of 36,300 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 8,900 shares, the short-interest ratio is presently 3.2 days.
Separately, BidaskClub lowered shares of Enterprise Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 19th.
NASDAQ:EBTC traded down $0.29 on Wednesday, hitting $27.78. 6,139 shares of the company’s stock were exchanged, compared to its average volume of 8,982. The business has a 50-day simple moving average of $29.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. Enterprise Bancorp has a 52 week low of $26.96 and a 52 week high of $37.41. The stock has a market capitalization of $329.48 million, a P/E ratio of 10.61 and a beta of 0.84.
Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings results on Thursday, July 18th. The savings and loans company reported $0.66 EPS for the quarter. The business had revenue of $32.82 million for the quarter. Enterprise Bancorp had a net margin of 21.52% and a return on equity of 11.85%.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 13th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, August 12th.
In other Enterprise Bancorp news, Chairman George L. Duncan bought 1,000 shares of the stock in a transaction on Thursday, July 25th. The stock was purchased at an average price of $28.48 per share, with a total value of $28,480.00. Following the acquisition, the chairman now owns 342,685 shares of the company’s stock, valued at $9,759,668.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 20.54% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings 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 purchasing an additional 7,923 shares during the last quarter. Banc Funds Co. LLC grew its position in Enterprise Bancorp by 14.0% during the first quarter. Banc Funds Co. LLC now owns 255,092 shares of the savings and loans company’s stock valued at $7,329,000 after acquiring an additional 31,252 shares during the period. Geode Capital Management LLC grew its position in Enterprise Bancorp by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 95,768 shares of the savings and loans company’s stock valued at $3,079,000 after acquiring an additional 6,946 shares during the period. Enterprise Bank & Trust Co purchased a new stake in Enterprise Bancorp during the first quarter valued at about $22,314,000. Finally, BlackRock Inc. grew its position in Enterprise Bancorp by 3.0% during the fourth quarter. BlackRock Inc. now owns 502,573 shares of the savings and loans company’s stock valued at $16,163,000 after acquiring an additional 14,530 shares during the period. 20.48% of the stock is currently owned by institutional investors.
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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