Enterprise Bancorp (EBTC) Downgraded by BidaskClub to Sell

Enterprise Bancorp (NASDAQ:EBTC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday, December 29th.

Shares of Enterprise Bancorp (NASDAQ:EBTC) traded down $0.62 during mid-day trading on Friday, reaching $34.88. 4,800 shares of the company’s stock traded hands, compared to its average volume of 6,167. The firm has a market cap of $411.72, a price-to-earnings ratio of 18.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 0.96. Enterprise Bancorp has a 52 week low of $29.02 and a 52 week high of $38.25.

Enterprise Bancorp (NASDAQ:EBTC) last posted its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.47 EPS for the quarter. Enterprise Bancorp had a net margin of 18.64% and a return on equity of 9.67%. The business had revenue of $28.58 million during the quarter.

In other news, Chairman George L. Duncan sold 10,229 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $34.39, for a total transaction of $351,775.31. Following the sale, the chairman now owns 390,228 shares in the company, valued at $13,419,940.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman George L. Duncan sold 1,938 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $34.42, for a total transaction of $66,705.96. Following the sale, the chairman now owns 394,069 shares in the company, valued at approximately $13,563,854.98. The disclosure for this sale can be found here. Insiders sold a total of 21,722 shares of company stock worth $765,266 over the last quarter. Insiders own 19.68% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. purchased a new position in Enterprise Bancorp during the second quarter valued at approximately $213,000. Wells Fargo & Company MN grew its position in Enterprise Bancorp by 2.4% during the second quarter. Wells Fargo & Company MN now owns 6,381 shares of the savings and loans company’s stock valued at $226,000 after purchasing an additional 150 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Enterprise Bancorp during the second quarter valued at approximately $406,000. Teachers Advisors LLC grew its position in Enterprise Bancorp by 20.4% during the second quarter. Teachers Advisors LLC now owns 16,835 shares of the savings and loans company’s stock valued at $598,000 after purchasing an additional 2,849 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in Enterprise Bancorp during the second quarter valued at approximately $644,000. 19.80% of the stock is currently owned by hedge funds and other institutional investors.

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Enterprise Bancorp Company Profile

Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company (the Bank). The Company is engaged in the business of gathering deposits from the general public and investing primarily in loans and investment securities and utilizing the resulting cash flows to conduct operations, expand the branch network, and pay dividends to stockholders.

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