Assenagon Asset Management S.A. reduced its position in Enterprise Bancorp, Inc. (NASDAQ:EBTC – Free Report) by 50.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,332 shares of the savings and loans company’s stock after selling 33,259 shares during the period. Assenagon Asset Management S.A.’s holdings in Enterprise Bancorp were worth $1,278,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EBTC. Wellington Management Group LLP purchased a new position in shares of Enterprise Bancorp in the third quarter worth $2,043,000. American Century Companies Inc. increased its holdings in Enterprise Bancorp by 35.4% in the 2nd quarter. American Century Companies Inc. now owns 55,751 shares of the savings and loans company’s stock worth $1,387,000 after buying an additional 14,563 shares in the last quarter. Siena Capital Partners GP LLC raised 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 worth $4,771,000 after buying an additional 13,222 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Enterprise Bancorp by 170.4% during 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. Finally, Barclays PLC boosted its holdings in shares of Enterprise Bancorp by 69.6% during the 3rd quarter. Barclays PLC now owns 22,836 shares of the savings and loans company’s stock valued at $729,000 after acquiring an additional 9,373 shares during the last quarter. 38.93% of the stock is owned by institutional investors.
Enterprise Bancorp Price Performance
NASDAQ EBTC opened at $41.44 on Friday. The stock has a market capitalization of $515.10 million, a price-to-earnings ratio of 14.29 and a beta of 0.54. Enterprise Bancorp, Inc. has a 1-year low of $22.60 and a 1-year high of $44.08. 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 business’s fifty day moving average price is $39.18 and its 200-day moving average price is $33.51.
Enterprise Bancorp Increases Dividend
The firm 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 represents a $1.00 annualized dividend and a dividend yield of 2.41%. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. Enterprise Bancorp’s dividend payout ratio is presently 33.10%.
Analyst Ratings Changes
Separately, StockNews.com began coverage on shares of Enterprise Bancorp in a report on Monday. They set a “hold” rating for the company.
Check Out Our Latest Research Report on EBTC
About Enterprise Bancorp
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.
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