Commonwealth Equity Services LLC increased its stake in Enterprise Bancorp, Inc. (NASDAQ: EBTC – Get Rating) by 95.8% during the first quarter, HoldingsChannel.com reports. The fund held 143,246 shares in the savings and loan company after buying an additional 70,099 shares during the period. Commonwealth Equity Services LLC’s holdings in Enterprise Bancorp were worth $5,747,000 at the end of the most recent period.
A number of other hedge funds also changed their holdings of EBTC. Assenagon Asset Management SA acquired a new position in shares of Enterprise Bancorp in the 4th quarter with a value of $936,000. Monarch Partners Asset Management LLC increased its holdings of Enterprise Bancorp stock by 246.0% during the fourth quarter. Monarch Partners Asset Management LLC now owns 62,508 shares of the savings and loan company valued at $2,808,000 after buying an additional 44,442 shares last quarter. Advisor Group Holdings Inc. increased its holdings of Enterprise Bancorp shares by 130.1% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,553 shares of the savings and loan company valued at $159,000 after buying 2,009 additional shares last quarter. BHZ Capital Management LP increased its holdings of Enterprise Bancorp shares by 1.5% in the fourth quarter. BHZ Capital Management LP now owns 61,884 shares of the savings and loan company valued at $2,780,000 after buying an additional 942 shares last quarter. Finally, First Trust Advisors LP bought a new position in shares of Enterprise Bancorp during the fourth quarter at a value of $251,000. 25.52% of the shares are currently held by institutional investors and hedge funds.
Performance of Enterprise Bancorp shares
NASDAQ EBTC shares opened at $32.40 on Thursday. The company’s 50-day moving average price is $32.14 and its two-hundred-day moving average price is $36.10. The company has a debt ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. Enterprise Bancorp, Inc. has a one-year low of $29.58 and a one-year high of $46.48. The company has a market capitalization of $392.17 million, a P/E ratio of 10.03 and a beta of 0.53.
Enterprise Bancorp announces dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1. Shareholders of record on Thursday, August 11 will receive a dividend of $0.205. The ex-date of this dividend is Wednesday, August 10. This represents a dividend of $0.82 on an annualized basis and a yield of 2.53%. Enterprise Bancorp’s dividend payout ratio (DPR) is currently 25.39%.
Analysts set new price targets
Separately, StockNews.com downgraded Enterprise Bancorp from a “buy” rating to a “hold” rating in a Thursday, May 26 report.
Enterprise Bancorp Company Profile
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Enterprise Bancorp, Inc operates as a holding company of Enterprise Bank and Trust Company which provides commercial banking products and services. It offers commercial and retail deposit products, including checking accounts, limited transaction savings and money market accounts, commercial swipe products and term deposit certificates.
See also
Want to see which other hedge funds hold EBTC? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Enterprise Bancorp, Inc. (NASDAQ:EBTC – Get Rating).
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