Enterprise Bancorp (NASDAQ:EBTC) Raised to Hold at BidaskClub

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BidaskClub upgraded shares of Enterprise Bancorp (NASDAQ:EBTC) from a sell rating to a hold rating in a research note released on Friday, BidAskClub reports.

Enterprise Bancorp stock opened at $28.66 on Friday. The company has a 50-day simple moving average of $29.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. Enterprise Bancorp has a one year low of $26.96 and a one year high of $44.04. The stock has a market capitalization of $336.63 million, a PE ratio of 10.94 and a beta of 0.81.

Enterprise Bancorp (NASDAQ:EBTC) last released its quarterly earnings results on Thursday, April 18th. The savings and loans company reported $0.74 EPS for the quarter. Enterprise Bancorp had a return on equity of 12.29% and a net margin of 22.05%. The company had revenue of $31.92 million during the quarter.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Friday, May 10th.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its stake in Enterprise Bancorp by 605.2% in the first quarter. BNP Paribas Arbitrage SA now owns 2,017 shares of the savings and loans company’s stock valued at $58,000 after buying an additional 1,731 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Enterprise Bancorp by 403.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,206 shares of the savings and loans company’s stock valued at $103,000 after buying an additional 2,569 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Enterprise Bancorp in the first quarter valued at about $222,000. Bank of America Corp DE raised its stake in Enterprise Bancorp by 80.8% in the fourth quarter. Bank of America Corp DE now owns 8,320 shares of the savings and loans company’s stock valued at $268,000 after buying an additional 3,718 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Enterprise Bancorp by 44.4% in the fourth quarter. Rhumbline Advisers now owns 13,633 shares of the savings and loans company’s stock valued at $438,000 after buying an additional 4,192 shares during the last quarter. Institutional investors own 27.06% of the company’s stock.

About Enterprise Bancorp

Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that provides various banking products and services primarily in the greater Merrimack Valley and North Central regions of Massachusetts and Southern New Hampshire. The company offers commercial checking, business and municipal savings accounts, term certificates of deposit, money market and business sweep accounts, interest on lawyers trust accounts, escrow management accounts, personal checking accounts, savings accounts, and individual retirement accounts, as well as checking and simplified employee pension accounts.

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