Wells Fargo & Company MN Increases Holdings in Enterprise Bancorp Inc (EBTC)

Wells Fargo & Company MN raised its stake in Enterprise Bancorp Inc (NASDAQ:EBTC) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,381 shares of the savings and loans company’s stock after acquiring an additional 150 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Enterprise Bancorp worth $226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EBTC. Cambridge Investment Research Advisors Inc. bought a new stake in Enterprise Bancorp in the 2nd quarter valued at $406,000. First Trust Advisors LP bought a new stake in Enterprise Bancorp in the 2nd quarter valued at $644,000. Finally, Bank of New York Mellon Corp increased its holdings in Enterprise Bancorp by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 41,080 shares of the savings and loans company’s stock valued at $1,460,000 after acquiring an additional 2,272 shares during the last quarter. Institutional investors own 19.85% of the company’s stock.

Shares of Enterprise Bancorp Inc (NASDAQ:EBTC) opened at $35.36 on Tuesday. Enterprise Bancorp Inc has a fifty-two week low of $29.02 and a fifty-two week high of $39.25. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.71. The firm has a market cap of $401.28, a PE ratio of 18.60 and a beta of 0.96.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a $0.135 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.53%. Enterprise Bancorp’s dividend payout ratio (DPR) is presently 29.03%.

Separately, BidaskClub downgraded shares of Enterprise Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th.

In other news, EVP Stephen J. Irish sold 1,188 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $36.00, for a total value of $42,768.00. Following the sale, the executive vice president now directly owns 9,912 shares in the company, valued at approximately $356,832. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ken S. Ansin sold 2,300 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $33.40, for a total transaction of $76,820.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,675 shares of company stock worth $126,414. Insiders own 19.68% of the company’s stock.

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About Enterprise Bancorp

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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Institutional Ownership by Quarter for Enterprise Bancorp (NASDAQ:EBTC)

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