Enterprise Bancorp (EBTC) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Enterprise Bancorp (NASDAQ:EBTC) from a strong sell rating to a sell rating in a research report sent to investors on Monday morning.

Shares of Enterprise Bancorp (NASDAQ:EBTC) opened at $31.51 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 0.96. Enterprise Bancorp has a 12-month low of $29.02 and a 12-month high of $38.25. The firm has a market capitalization of $373.37, a PE ratio of 15.54 and a beta of 0.89.

Enterprise Bancorp (NASDAQ:EBTC) last issued 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 10.68% and a net margin of 16.07%. The business had revenue of $30.16 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 8th will be given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, February 7th. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.14. Enterprise Bancorp’s dividend payout ratio (DPR) is 34.94%.

In related news, EVP Ryan C. Dunn sold 700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $35.75, for a total transaction of $25,025.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman George L. Duncan sold 1,938 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $34.42, for a total value of $66,705.96. Following the transaction, the chairman now owns 394,069 shares in the company, valued at approximately $13,563,854.98. The disclosure for this sale can be found here. Insiders have sold a total of 20,347 shares of company stock worth $715,673 in the last three months. Corporate insiders own 19.68% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in EBTC. Bank of New York Mellon Corp grew its stake in Enterprise Bancorp by 5.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 41,080 shares of the savings and loans company’s stock worth $1,460,000 after buying an additional 2,272 shares during the last quarter. Wells Fargo & Company MN grew its stake in Enterprise Bancorp by 2.4% during the 2nd quarter. Wells Fargo & Company MN now owns 6,381 shares of the savings and loans company’s stock worth $226,000 after buying an additional 150 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Enterprise Bancorp during the 2nd quarter worth approximately $213,000. Teachers Advisors LLC grew its stake in Enterprise Bancorp by 20.4% during the 2nd quarter. Teachers Advisors LLC now owns 16,835 shares of the savings and loans company’s stock worth $598,000 after buying an additional 2,849 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Enterprise Bancorp by 11.7% during the 2nd quarter. Northern Trust Corp now owns 105,419 shares of the savings and loans company’s stock worth $3,747,000 after buying an additional 11,070 shares during the last quarter. Hedge funds and other institutional investors own 19.83% of the company’s stock.

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About Enterprise Bancorp

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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