Raymond James Financial Inc. Buys Shares of 7,024 Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Raymond James Financial Inc. acquired a new position in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,024 shares of the savings and loans company’s stock, valued at approximately $278,000. Raymond James Financial Inc. owned about 0.06% of Enterprise Bancorp as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP bought a new stake in shares of Enterprise Bancorp in the 3rd quarter valued at $2,043,000. ABC Arbitrage SA bought a new position in Enterprise Bancorp during the 4th quarter valued at $2,342,000. Spinnaker Trust bought a new stake in Enterprise Bancorp in the 4th quarter worth about $1,689,000. JPMorgan Chase & Co. increased its position in shares of Enterprise Bancorp by 170.4% during the third quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock valued at $664,000 after acquiring an additional 13,084 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Enterprise Bancorp by 69.6% in the 3rd quarter. Barclays PLC now owns 22,836 shares of the savings and loans company’s stock worth $729,000 after buying an additional 9,373 shares during the last quarter. Institutional investors own 38.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Enterprise Bancorp in a research report on Thursday. They set a “hold” rating on the stock.

Enterprise Bancorp Stock Down 6.3 %

EBTC stock opened at $34.10 on Friday. The stock has a 50-day simple moving average of $40.20 and a two-hundred day simple moving average of $38.11. The firm has a market capitalization of $424.85 million, a PE ratio of 10.93 and a beta of 0.56. Enterprise Bancorp, Inc. has a twelve month low of $22.60 and a twelve month high of $44.41. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

Enterprise Bancorp (NASDAQ:EBTC) last issued its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share (EPS) for the quarter. Enterprise Bancorp had a return on equity of 11.15% and a net margin of 15.30%.

Enterprise Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, February 10th. Enterprise Bancorp’s dividend payout ratio (DPR) is currently 32.05%.

About Enterprise Bancorp

Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that engages in the provision of 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.