Enterprise Bancorp Inc (EBTC) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Enterprise Bancorp Inc (NASDAQ:EBTC) from a sell rating to a strong sell rating in a research report report published on Monday.

Enterprise Bancorp (NASDAQ:EBTC) opened at 30.62 on Monday. The company’s 50 day moving average price is $34.48 and its 200-day moving average price is $33.47. Enterprise Bancorp has a 12-month low of $22.89 and a 12-month high of $39.25. The firm has a market capitalization of $350.75 million, a price-to-earnings ratio of 17.00 and a beta of 0.92.

Enterprise Bancorp (NASDAQ:EBTC) last issued its quarterly earnings results on Thursday, July 20th. The savings and loans company reported $0.48 EPS for the quarter. The business had revenue of $27.47 million for the quarter. Enterprise Bancorp had a return on equity of 9.49% and a net margin of 18.50%.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 11th will be issued a dividend of $0.135 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.54 dividend on an annualized basis and a yield of 1.76%. Enterprise Bancorp’s dividend payout ratio (DPR) is currently 30.00%.

In related news, Chairman George L. Duncan sold 1,500 shares of Enterprise Bancorp stock in a transaction on Monday, July 31st. The stock was sold at an average price of $34.51, for a total transaction of $51,765.00. Following the sale, the chairman now directly owns 406,523 shares in the company, valued at $14,029,108.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.68% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new stake in shares of Enterprise Bancorp during the second quarter valued at about $1,198,000. State Street Corp raised its stake in shares of Enterprise Bancorp by 9.4% in the second quarter. State Street Corp now owns 153,399 shares of the savings and loans company’s stock valued at $5,451,000 after buying an additional 13,123 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Enterprise Bancorp by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 146,180 shares of the savings and loans company’s stock valued at $5,195,000 after buying an additional 7,365 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Enterprise Bancorp by 0.7% in the second quarter. Vanguard Group Inc. now owns 303,306 shares of the savings and loans company’s stock valued at $10,779,000 after buying an additional 2,073 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Enterprise Bancorp by 11.7% in the second quarter. Northern Trust Corp now owns 105,419 shares of the savings and loans company’s stock valued at $3,747,000 after buying an additional 11,070 shares during the last quarter. Hedge funds and other institutional investors own 19.10% of the company’s stock.

Enterprise Bancorp Company Profile

Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company (the Bank). The Company is engaged in the business of gathering deposits from the general public and investing primarily in loans and investment securities and utilizing the resulting cash flows to conduct operations, expand the branch network, and pay dividends to stockholders.

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