Short Interest in Enterprise Bancorp, Inc. (NASDAQ:EBTC) Expands By 13.9%

Enterprise Bancorp, Inc. (NASDAQ:EBTC) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 32,800 shares, a growth of 13.9% from the March 31st total of 28,800 shares. Based on an average trading volume of 27,100 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.4% of the shares of the company are sold short.

Insider Transactions at Enterprise Bancorp

In other Enterprise Bancorp news, Director Michael T. Putziger bought 1,755 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $27.46 per share, with a total value of $48,192.30. Following the acquisition, the director now directly owns 206,075 shares of the company’s stock, valued at approximately $5,658,819.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 21.69% of the company’s stock.

Hedge Funds Weigh In On Enterprise Bancorp

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC increased its stake in shares of Enterprise Bancorp by 1.8% during the third quarter. HighTower Advisors LLC now owns 56,831 shares of the savings and loans company’s stock worth $1,556,000 after acquiring an additional 1,000 shares during the period. Panagora Asset Management Inc. increased its position in Enterprise Bancorp by 2.2% during the 4th quarter. Panagora Asset Management Inc. now owns 35,961 shares of the savings and loans company’s stock worth $1,160,000 after purchasing an additional 757 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Enterprise Bancorp by 15.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 14,863 shares of the savings and loans company’s stock worth $479,000 after buying an additional 2,000 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Enterprise Bancorp by 42.7% in the 4th quarter. BNP Paribas Financial Markets now owns 10,972 shares of the savings and loans company’s stock valued at $354,000 after buying an additional 3,284 shares during the period. Finally, Barclays PLC boosted its stake in shares of Enterprise Bancorp by 33.2% in the third quarter. Barclays PLC now owns 8,201 shares of the savings and loans company’s stock valued at $225,000 after buying an additional 2,043 shares in the last quarter. 38.93% of the stock is owned by institutional investors and hedge funds.

Enterprise Bancorp Stock Performance

Shares of NASDAQ EBTC traded up $0.08 during midday trading on Monday, reaching $24.98. 18,700 shares of the company were exchanged, compared to its average volume of 24,907. The stock has a fifty day simple moving average of $25.41 and a 200 day simple moving average of $27.44. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.26. The stock has a market cap of $306.75 million, a P/E ratio of 8.58 and a beta of 0.61. Enterprise Bancorp has a 1 year low of $23.01 and a 1 year high of $34.10.

Enterprise Bancorp (NASDAQ:EBTC) last announced its earnings results on Thursday, January 25th. The savings and loans company reported $0.64 earnings per share for the quarter. Enterprise Bancorp had a return on equity of 11.47% and a net margin of 15.80%. The company had revenue of $42.07 million for the quarter.

Enterprise Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $0.96 dividend on an annualized basis and a yield of 3.84%. Enterprise Bancorp’s dividend payout ratio (DPR) is 32.99%.

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.