Enterprise Bancorp (NASDAQ:EBTC) Shares Gap Up – Time to Buy?

Enterprise Bancorp, Inc. (NASDAQ:EBTC) 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.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Enterprise Bancorp in a report on Tuesday. They set a “hold” rating on the stock.

Enterprise Bancorp Price Performance

The company’s 50-day moving average price is $41.56 and its two-hundred day moving average price is $37.66. 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 company has a market capitalization of $504.95 million, a P/E ratio of 12.99 and a beta of 0.49.

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

Enterprise Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.47%. Enterprise Bancorp’s payout ratio is 32.05%.

Institutional Inflows and Outflows

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

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.