California State Teachers Retirement System Cuts Holdings in Enterprise Bancorp, Inc (EBTC)

California State Teachers Retirement System lessened its holdings in shares of Enterprise Bancorp, Inc (NASDAQ:EBTC) by 8.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,760 shares of the savings and loans company’s stock after selling 1,600 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Enterprise Bancorp worth $596,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. State Street Corp boosted its position in Enterprise Bancorp by 9.4% during the second quarter. State Street Corp now owns 153,399 shares of the savings and loans company’s stock worth $5,451,000 after purchasing an additional 13,123 shares during the period. Dimensional Fund Advisors LP boosted its position in Enterprise Bancorp by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 146,180 shares of the savings and loans company’s stock worth $5,195,000 after purchasing an additional 7,365 shares during the period. Vanguard Group Inc. boosted its position in Enterprise Bancorp by 0.7% during the second quarter. Vanguard Group Inc. now owns 303,306 shares of the savings and loans company’s stock worth $10,779,000 after purchasing an additional 2,073 shares during the period. Northern Trust Corp boosted its position in Enterprise Bancorp by 11.7% during the second quarter. Northern Trust Corp now owns 105,419 shares of the savings and loans company’s stock worth $3,747,000 after purchasing an additional 11,070 shares during the period. Finally, Teachers Advisors LLC boosted its position in Enterprise Bancorp by 20.4% during the second quarter. Teachers Advisors LLC now owns 16,835 shares of the savings and loans company’s stock worth $598,000 after purchasing an additional 2,849 shares during the period. Hedge funds and other institutional investors own 19.80% of the company’s stock.

Enterprise Bancorp, Inc (NASDAQ EBTC) opened at $37.24 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The firm has a market cap of $431.90, a PE ratio of 20.02 and a beta of 0.95. Enterprise Bancorp, Inc has a 1 year low of $29.02 and a 1 year high of $39.25.

Enterprise Bancorp (NASDAQ:EBTC) last issued its earnings results on Thursday, October 19th. The savings and loans company reported $0.47 earnings per share for the quarter. Enterprise Bancorp had a net margin of 18.64% and a return on equity of 9.67%. The firm had revenue of $28.58 million during the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a $0.135 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.45%. Enterprise Bancorp’s dividend payout ratio (DPR) is currently 29.03%.

In other news, EVP Stephen J. Irish sold 1,188 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $36.00, for a total value of $42,768.00. Following the completion of the transaction, the executive vice president now directly owns 9,912 shares in the company, valued at $356,832. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ryan C. Dunn sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $35.75, for a total transaction of $25,025.00. The disclosure for this sale can be found here. Insiders sold 4,375 shares of company stock valued at $151,439 over the last 90 days. 19.68% of the stock is owned by company insiders.

Separately, BidaskClub lowered shares of Enterprise Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th.

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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.

Institutional Ownership by Quarter for Enterprise Bancorp (NASDAQ:EBTC)

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