Enterprise Bancorp (NASDAQ:EBTC) Sees Large Volume Increase – What’s Next?

Enterprise Bancorp, Inc. (NASDAQ:EBTC) saw unusually-high trading volume on Wednesday . Approximately 12,604 shares traded hands during trading, a decline of 47% from the previous session’s volume of 23,561 shares.The stock last traded at $43.00 and had previously closed at $42.75.

Enterprise Bancorp Price Performance

The business has a fifty day moving average of $35.17 and a 200-day moving average of $30.14. The firm has a market cap of $537.10 million, a PE ratio of 14.90 and a beta of 0.56. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.22%. The ex-dividend date was Friday, November 8th. Enterprise Bancorp’s dividend payout ratio is presently 33.10%.

Hedge Funds Weigh In On Enterprise Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Enterprise Bancorp in the third quarter valued at approximately $111,000. Private Advisor Group LLC purchased a new stake in shares of Enterprise Bancorp during the 3rd quarter valued at $212,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Enterprise Bancorp during the 3rd quarter worth $223,000. Cabot Wealth Management Inc. purchased a new position in Enterprise Bancorp in the third quarter worth $234,000. Finally, Rhumbline Advisers increased its stake in Enterprise Bancorp by 2.8% in the second quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock valued at $375,000 after acquiring an additional 406 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.