Enterprise Bancorp (NASDAQ:EBTC) Shares Gap Up – Still a Buy?

Enterprise Bancorp, Inc. (NASDAQ:EBTC) shares gapped up before the market opened on Wednesday . The stock had previously closed at $40.13, but opened at $41.34. Enterprise Bancorp shares last traded at $40.66, with a volume of 3,414 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Enterprise Bancorp in a report on Tuesday. They set a “hold” rating for the company.

Enterprise Bancorp Price Performance

The stock has a market capitalization of $498.36 million, a P/E ratio of 12.82 and a beta of 0.49. The business has a fifty day simple moving average of $41.55 and a 200 day simple moving average of $37.69. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share (EPS) for the quarter. Enterprise Bancorp had a return on equity of 11.15% and a net margin of 15.30%.

Enterprise Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 2.50%. This is an increase from Enterprise Bancorp’s previous quarterly dividend of $0.24. Enterprise Bancorp’s dividend payout ratio is currently 32.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its position in shares of Enterprise Bancorp by 36.6% during the 4th quarter. Picton Mahoney Asset Management now owns 884 shares of the savings and loans company’s stock worth $35,000 after buying an additional 237 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Enterprise Bancorp by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,683 shares of the savings and loans company’s stock worth $225,000 after acquiring an additional 301 shares during the period. Martingale Asset Management L P boosted its position in Enterprise Bancorp by 3.3% in the fourth quarter. Martingale Asset Management L P now owns 26,491 shares of the savings and loans company’s stock worth $1,047,000 after purchasing an additional 850 shares during the last quarter. SG Americas Securities LLC grew its stake in Enterprise Bancorp by 27.3% in the 4th quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company’s stock valued at $175,000 after purchasing an additional 948 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Enterprise Bancorp by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,809 shares of the savings and loans company’s stock valued at $230,000 after purchasing an additional 1,267 shares during the last quarter. 38.93% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Bancorp Company Profile

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.