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

BidaskClub upgraded shares of Enterprise Bancorp (NASDAQ:EBTC) from a sell rating to a hold rating in a research report report published on Tuesday morning, BidAskClub reports.

Other research analysts have also issued reports about the company. TheStreet lowered Enterprise Bancorp from a b- rating to a c+ rating in a research report on Monday, March 9th. ValuEngine raised Enterprise Bancorp from a sell rating to a hold rating in a research report on Monday, March 30th.

Shares of EBTC opened at $24.33 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $263.40 million, a P/E ratio of 9.73 and a beta of 0.47. The stock’s fifty day simple moving average is $22.66 and its 200 day simple moving average is $27.27. Enterprise Bancorp has a twelve month low of $19.27 and a twelve month high of $34.75.

Enterprise Bancorp (NASDAQ:EBTC) last issued its earnings results on Monday, April 27th. The savings and loans company reported $0.34 earnings per share for the quarter. The business had revenue of $34.09 million for the quarter. Enterprise Bancorp had a return on equity of 10.07% and a net margin of 18.99%.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, May 8th.

Large investors have recently added to or reduced their stakes in the business. Citigroup Inc. increased its position in shares of Enterprise Bancorp by 36.0% during the fourth quarter. Citigroup Inc. now owns 1,797 shares of the savings and loans company’s stock worth $61,000 after acquiring an additional 476 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Enterprise Bancorp by 28.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,813 shares of the savings and loans company’s stock worth $76,000 after acquiring an additional 625 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Enterprise Bancorp by 10.7% during the fourth quarter. Panagora Asset Management Inc. now owns 4,350 shares of the savings and loans company’s stock worth $147,000 after acquiring an additional 421 shares during the last quarter. Royal Bank of Canada increased its position in shares of Enterprise Bancorp by 26.6% during the first quarter. Royal Bank of Canada now owns 5,605 shares of the savings and loans company’s stock worth $152,000 after acquiring an additional 1,178 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Enterprise Bancorp by 59.8% during the first quarter. Russell Investments Group Ltd. now owns 7,832 shares of the savings and loans company’s stock worth $210,000 after acquiring an additional 2,930 shares during the last quarter. 21.90% of the stock is currently owned by institutional investors.

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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