Banc Funds Co. LLC lowered its position in shares of Enterprise Bancorp, Inc (NASDAQ:EBTC) by 13.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 223,840 shares of the savings and loans company’s stock after selling 34,655 shares during the quarter. Banc Funds Co. LLC owned about 1.91% of Enterprise Bancorp worth $7,033,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of EBTC. Bank of New York Mellon Corp boosted its position in shares of Enterprise Bancorp by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 52,962 shares of the savings and loans company’s stock valued at $1,703,000 after purchasing an additional 872 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Enterprise Bancorp by 63.2% during the third quarter. MetLife Investment Advisors LLC now owns 6,633 shares of the savings and loans company’s stock worth $228,000 after purchasing an additional 2,569 shares in the last quarter. Martingale Asset Management L P grew its stake in shares of Enterprise Bancorp by 23.8% during the third quarter. Martingale Asset Management L P now owns 19,806 shares of the savings and loans company’s stock worth $682,000 after purchasing an additional 3,802 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Enterprise Bancorp by 44.4% during the fourth quarter. Rhumbline Advisers now owns 13,633 shares of the savings and loans company’s stock worth $438,000 after purchasing an additional 4,192 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Enterprise Bancorp by 1.0% during the third quarter. BlackRock Inc. now owns 488,043 shares of the savings and loans company’s stock worth $16,783,000 after purchasing an additional 5,012 shares in the last quarter. 21.56% of the stock is owned by institutional investors.
Separately, BidaskClub upgraded shares of Enterprise Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, December 22nd.
Enterprise Bancorp stock remained flat at $$31.45 during midday trading on Wednesday. 535 shares of the company traded hands, compared to its average volume of 8,904. The stock has a market cap of $371.24 million, a P/E ratio of 12.95 and a beta of 0.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.89. Enterprise Bancorp, Inc has a 12-month low of $26.96 and a 12-month high of $44.14.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Monday, February 11th will be paid a $0.16 dividend. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, February 8th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.03%.
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Enterprise Bancorp Company Profile
Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that provides various banking products and services primarily in the greater Merrimack Valley and North Central regions of Massachusetts and Southern New Hampshire. The company offers commercial checking, business and municipal savings accounts, term certificates of deposit, money market and business sweep accounts, interest on lawyers trust accounts, escrow management accounts, personal checking accounts, savings accounts, and individual retirement accounts, as well as checking and simplified employee pension accounts.
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