Enterprise Bancorp (NASDAQ:EBTC) Sees Strong Trading Volume – Here’s Why

Enterprise Bancorp, Inc. (NASDAQ:EBTC) saw strong trading volume on Tuesday . 44,283 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 37,177 shares.The stock last traded at $41.15 and had previously closed at $43.15.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Enterprise Bancorp in a research note on Saturday. They issued a “hold” rating on the stock.

Enterprise Bancorp Stock Performance

The stock has a market cap of $518.32 million, a PE ratio of 13.45 and a beta of 0.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. The company’s 50-day moving average price is $41.46 and its two-hundred day moving average price is $36.59.

Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share (EPS) for the quarter. Enterprise Bancorp had a net margin of 15.30% and a return on equity of 11.15%.

Enterprise Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.40%. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, February 10th. Enterprise Bancorp’s dividend payout ratio (DPR) is currently 32.05%.

Hedge Funds Weigh In On Enterprise Bancorp

Institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management boosted its holdings in shares of Enterprise Bancorp by 36.6% during the 4th quarter. Picton Mahoney Asset Management now owns 884 shares of the savings and loans company’s stock valued at $35,000 after buying an additional 237 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Enterprise Bancorp by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company’s stock valued at $175,000 after purchasing an additional 948 shares during the last quarter. Harbor Group Inc. purchased a new stake in shares of Enterprise Bancorp in the 4th quarter worth approximately $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Enterprise Bancorp by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,683 shares of the savings and loans company’s stock worth $225,000 after buying an additional 301 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Enterprise Bancorp by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 5,809 shares of the savings and loans company’s stock worth $230,000 after buying an additional 1,267 shares during the last quarter. 38.93% of the stock is owned by institutional investors.

About Enterprise Bancorp

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.