Enterprise Bancorp (NASDAQ:EBTC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Enterprise Bancorp (NASDAQ:EBTCGet Rating) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Shares of EBTC opened at $31.87 on Wednesday. The company has a 50-day moving average of $36.69 and a two-hundred day moving average of $39.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $385.63 million, a price-to-earnings ratio of 9.16 and a beta of 0.55. Enterprise Bancorp has a one year low of $31.61 and a one year high of $46.48.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Wednesday, May 11th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, May 10th. Enterprise Bancorp’s payout ratio is presently 23.56%.

In other news, Director Michael T. Putziger purchased 976 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were bought at an average price of $40.41 per share, with a total value of $39,440.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.81% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Enterprise Bancorp by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 13,604 shares of the savings and loans company’s stock worth $546,000 after acquiring an additional 1,363 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Enterprise Bancorp in the first quarter worth $19,516,000. State Street Corp grew its stake in shares of Enterprise Bancorp by 14.1% in the first quarter. State Street Corp now owns 183,195 shares of the savings and loans company’s stock worth $7,350,000 after acquiring an additional 22,629 shares during the last quarter. Prelude Capital Management LLC boosted its stake in Enterprise Bancorp by 18.8% during the first quarter. Prelude Capital Management LLC now owns 11,546 shares of the savings and loans company’s stock worth $463,000 after buying an additional 1,825 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in Enterprise Bancorp during the first quarter worth $335,000. Institutional investors and hedge funds own 25.52% of the company’s stock.

Enterprise Bancorp Company Profile (Get Rating)

Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company that provides 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.

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