Enterprise Bancorp (NASDAQ:EBTC) Shares Cross Below Two Hundred Day Moving Average of $29.94

Enterprise Bancorp, Inc. (NASDAQ:EBTC)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.94 and traded as low as $28.75. Enterprise Bancorp shares last traded at $29.10, with a volume of 8,678 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Enterprise Bancorp in a report on Thursday, August 17th. They issued a “hold” rating on the stock.

Enterprise Bancorp Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $356.27 million, a price-to-earnings ratio of 7.95 and a beta of 0.58. The firm’s fifty day moving average price is $29.63 and its 200-day moving average price is $29.94.

Enterprise Bancorp (NASDAQ:EBTC) last posted its earnings results on Tuesday, July 25th. The savings and loans company reported $0.79 EPS for the quarter. The firm had revenue of $40.91 million for the quarter. Enterprise Bancorp had a return on equity of 15.25% and a net margin of 22.36%.

Enterprise Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, August 10th. This represents a $0.92 annualized dividend and a yield of 3.16%. Enterprise Bancorp’s payout ratio is 25.14%.

Institutional Trading of Enterprise Bancorp

A number of institutional investors have recently made changes to their positions in EBTC. BlackRock Inc. raised its stake in shares of Enterprise Bancorp by 10.8% in the 2nd quarter. BlackRock Inc. now owns 691,689 shares of the savings and loans company’s stock worth $20,017,000 after buying an additional 67,406 shares in the last quarter. Captrust Financial Advisors bought a new stake in Enterprise Bancorp in the first quarter worth about $19,516,000. Dimensional Fund Advisors LP lifted its holdings in Enterprise Bancorp by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 312,576 shares of the savings and loans company’s stock valued at $9,046,000 after acquiring an additional 19,165 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Enterprise Bancorp by 9.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 274,369 shares of the savings and loans company’s stock valued at $7,940,000 after purchasing an additional 24,532 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Enterprise Bancorp by 2.1% in the 2nd quarter. State Street Corp now owns 195,165 shares of the savings and loans company’s stock worth $5,648,000 after purchasing an additional 4,002 shares during the last quarter. 29.33% of the stock is owned by institutional investors and hedge funds.

Enterprise Bancorp Company Profile

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.