Spinnaker Trust Invests $1.69 Million in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Spinnaker Trust purchased a new position in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 42,728 shares of the savings and loans company’s stock, valued at approximately $1,689,000. Spinnaker Trust owned 0.34% of Enterprise Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in Enterprise Bancorp in the 3rd quarter valued at approximately $2,043,000. ABC Arbitrage SA acquired a new stake in Enterprise Bancorp in the 4th quarter valued at approximately $2,342,000. Assenagon Asset Management S.A. increased its position in Enterprise Bancorp by 102.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 65,591 shares of the savings and loans company’s stock valued at $2,096,000 after acquiring an additional 33,153 shares during the period. Siena Capital Partners GP LLC increased its position in Enterprise Bancorp by 9.7% in 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 acquiring an additional 13,222 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Enterprise Bancorp by 170.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock valued at $664,000 after acquiring an additional 13,084 shares during the period. 38.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Enterprise Bancorp in a research report on Thursday. They issued a “hold” rating on the stock.

Enterprise Bancorp Stock Up 0.1 %

EBTC opened at $43.05 on Friday. Enterprise Bancorp, Inc. has a 12 month low of $22.60 and a 12 month high of $44.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $535.11 million, a P/E ratio of 13.80 and a beta of 0.54. The stock’s 50 day moving average price is $41.21 and its 200 day moving average price is $35.27.

Enterprise Bancorp (NASDAQ:EBTC) last issued 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 return on equity of 11.15% and a net margin of 15.30%.

Enterprise Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. Enterprise Bancorp’s dividend payout ratio (DPR) is 30.77%.

Enterprise Bancorp 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.