Enterprise Bancorp (NASDAQ:EBTC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Enterprise Bancorp (NASDAQ:EBTCGet Rating) from a hold rating to a buy rating in a research note released on Wednesday.

Shares of EBTC stock opened at $32.64 on Wednesday. The stock has a market cap of $394.94 million, a PE ratio of 9.38 and a beta of 0.55. The business has a 50-day simple moving average of $36.96 and a 200-day simple moving average of $39.69. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. Enterprise Bancorp has a 52-week low of $32.01 and a 52-week high of $46.48.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Wednesday, May 11th will be paid a $0.205 dividend. The ex-dividend date is Tuesday, May 10th. This represents a $0.82 annualized dividend and a dividend yield of 2.51%. Enterprise Bancorp’s dividend payout ratio is presently 23.56%.

In related news, Director Michael T. Putziger purchased 976 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was acquired at an average cost of $40.41 per share, for a total transaction of $39,440.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.81% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in Enterprise Bancorp by 2.0% during the third quarter. Geode Capital Management LLC now owns 149,876 shares of the savings and loans company’s stock worth $5,388,000 after purchasing an additional 2,953 shares in the last quarter. M3F Inc. grew its holdings in shares of Enterprise Bancorp by 43.3% during the third quarter. M3F Inc. now owns 133,730 shares of the savings and loans company’s stock worth $4,808,000 after purchasing an additional 40,393 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Enterprise Bancorp by 0.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 73,147 shares of the savings and loans company’s stock worth $3,285,000 after purchasing an additional 460 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Enterprise Bancorp during the third quarter worth about $223,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Enterprise Bancorp during the third quarter worth about $91,000. Hedge funds and other institutional investors own 25.52% of the company’s stock.

About Enterprise Bancorp (Get Rating)

Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company that provides 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.

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