Enterprise Bancorp, Inc. (NASDAQ:EBTC) Sees Large Increase in Short Interest

Enterprise Bancorp, Inc. (NASDAQ:EBTC) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 27,800 shares, an increase of 12.1% from the May 31st total of 24,800 shares. Based on an average daily trading volume, of 18,900 shares, the short-interest ratio is presently 1.5 days. Approximately 0.3% of the company’s stock are short sold.

Enterprise Bancorp Price Performance

Shares of NASDAQ EBTC remained flat at $23.90 during trading hours on Wednesday. 10,551 shares of the company traded hands, compared to its average volume of 22,841. Enterprise Bancorp has a 1 year low of $22.60 and a 1 year high of $34.10. The firm’s 50 day simple moving average is $24.54 and its two-hundred day simple moving average is $26.55. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $295.88 million, a P/E ratio of 8.21 and a beta of 0.54.

Enterprise Bancorp (NASDAQ:EBTC) last posted its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.69 earnings per share for the quarter. Enterprise Bancorp had a return on equity of 11.28% and a net margin of 15.80%. The firm had revenue of $40.69 million during the quarter.

Enterprise Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.96 annualized dividend and a dividend yield of 4.02%. Enterprise Bancorp’s dividend payout ratio (DPR) is currently 32.99%.

Hedge Funds Weigh In On Enterprise Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its stake in Enterprise Bancorp by 18.9% during the 4th quarter. SG Americas Securities LLC now owns 5,256 shares of the savings and loans company’s stock valued at $170,000 after purchasing an additional 835 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Enterprise Bancorp during the fourth quarter valued at $212,000. BNP Paribas Financial Markets grew its holdings in shares of Enterprise Bancorp by 42.7% during the fourth quarter. BNP Paribas Financial Markets now owns 10,972 shares of the savings and loans company’s stock valued at $354,000 after buying an additional 3,284 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of Enterprise Bancorp by 15.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,863 shares of the savings and loans company’s stock valued at $479,000 after acquiring an additional 2,000 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in Enterprise Bancorp in the 1st quarter worth $526,000. 38.93% of the stock is owned by hedge funds and other institutional investors.

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.