Enterprise Bancorp (NASDAQ:EBTC) Shares Gap Up – Time to Buy?

Enterprise Bancorp, Inc. (NASDAQ:EBTC)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $40.13, but opened at $41.34. Enterprise Bancorp shares last traded at $40.66, with a volume of 3,414 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Enterprise Bancorp in a report on Tuesday. They issued a “hold” rating for the company.

Enterprise Bancorp Stock Up 0.1 %

The firm has a market cap of $498.36 million, a PE ratio of 12.82 and a beta of 0.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $41.55 and a two-hundred day simple moving average of $37.69.

Enterprise Bancorp (NASDAQ:EBTC) last posted its earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.50%. 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 payout ratio is presently 32.05%.

Institutional Trading of Enterprise Bancorp

Several institutional investors and hedge funds have recently modified their holdings of EBTC. Picton Mahoney Asset Management increased its position in shares of Enterprise Bancorp by 36.6% in the fourth quarter. Picton Mahoney Asset Management now owns 884 shares of the savings and loans company’s stock worth $35,000 after purchasing an additional 237 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Enterprise Bancorp by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,683 shares of the savings and loans company’s stock valued at $225,000 after purchasing an additional 301 shares during the last quarter. Martingale Asset Management L P increased its holdings in shares of Enterprise Bancorp by 3.3% in the 4th quarter. Martingale Asset Management L P now owns 26,491 shares of the savings and loans company’s stock worth $1,047,000 after buying an additional 850 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Enterprise Bancorp by 27.3% in the 4th quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company’s stock worth $175,000 after buying an additional 948 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Enterprise Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,809 shares of the savings and loans company’s stock valued at $230,000 after buying an additional 1,267 shares in the last quarter. Hedge funds and other institutional investors own 38.93% of the company’s 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.