Enterprise Bancorp, Inc. (NASDAQ:EBTC) Stock Holdings Lessened by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,919 shares of the savings and loans company’s stock after selling 372 shares during the quarter. Corebridge Financial Inc.’s holdings in Enterprise Bancorp were worth $194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Picton Mahoney Asset Management grew its stake in Enterprise Bancorp by 36.6% during the 4th quarter. Picton Mahoney Asset Management now owns 884 shares of the savings and loans company’s stock valued at $35,000 after acquiring an additional 237 shares in the last quarter. SG Americas Securities LLC grew its position in Enterprise Bancorp by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company’s stock valued at $175,000 after purchasing an additional 948 shares in the last quarter. Harbor Group Inc. acquired a new position in Enterprise Bancorp in the 4th quarter valued at approximately $203,000. Raymond James Financial Inc. purchased a new stake in Enterprise Bancorp in the 4th quarter worth approximately $278,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Enterprise Bancorp by 79.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,476 shares of the savings and loans company’s stock valued at $493,000 after buying an additional 5,508 shares during the period. Institutional investors and hedge funds own 38.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enterprise Bancorp Trading Down 1.0 %

Shares of NASDAQ EBTC opened at $33.77 on Monday. The business has a 50 day simple moving average of $40.02 and a 200 day simple moving average of $38.17. Enterprise Bancorp, Inc. has a 52 week low of $22.60 and a 52 week high of $44.41. The stock has a market cap of $420.74 million, a price-to-earnings ratio of 10.82 and a beta of 0.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92.

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

Enterprise Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 10th were issued a dividend of $0.25 per share. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.96%. The ex-dividend date was Monday, February 10th. Enterprise Bancorp’s dividend payout ratio (DPR) is 32.05%.

Enterprise Bancorp Company Profile

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.