Short Interest in Enterprise Bancorp, Inc. (NASDAQ:EBTC) Drops By 14.8%

Enterprise Bancorp, Inc. (NASDAQ:EBTC) saw a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 88,700 shares, a decline of 14.8% from the January 31st total of 104,100 shares. Based on an average daily volume of 42,900 shares, the short-interest ratio is currently 2.1 days. Currently, 0.9% of the shares of the stock are short sold.

Institutional Trading of Enterprise Bancorp

A number of hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in shares of Enterprise Bancorp during the 3rd quarter valued at $212,000. Empowered Funds LLC lifted its holdings in shares of Enterprise Bancorp by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 58,007 shares of the savings and loans company’s stock valued at $1,854,000 after purchasing an additional 2,948 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Enterprise Bancorp during the 3rd quarter valued at $223,000. Siena Capital Partners GP LLC lifted its holdings in shares of Enterprise Bancorp by 9.7% during the 3rd quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company’s stock valued at $4,771,000 after purchasing an additional 13,222 shares during the last quarter. Finally, Martingale Asset Management L P grew its position in Enterprise Bancorp by 6.0% during the 3rd quarter. Martingale Asset Management L P now owns 25,641 shares of the savings and loans company’s stock worth $819,000 after purchasing an additional 1,441 shares during the period. Hedge funds and other institutional investors own 38.93% of the company’s stock.

Enterprise Bancorp Trading Down 4.0 %

EBTC opened at $40.96 on Wednesday. The stock has a market cap of $510.28 million, a price-to-earnings ratio of 13.13 and a beta of 0.54. The stock’s 50 day moving average price is $41.46 and its 200-day moving average price is $36.59. Enterprise Bancorp has a one year low of $22.60 and a one year high of $44.41. 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 announced its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share (EPS) for the quarter. Enterprise Bancorp had a return on equity of 11.15% and a net margin of 15.30%.

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. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. Enterprise Bancorp’s dividend payout ratio is currently 32.05%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Enterprise Bancorp in a research report on Saturday. They set a “hold” rating on the stock.

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.