Short Interest in Enterprise Bancorp, Inc. (NASDAQ:EBTC) Drops By 14.8%

Enterprise Bancorp, Inc. (NASDAQ:EBTC) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 88,700 shares, a drop of 14.8% from the January 31st total of 104,100 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 42,900 shares, the days-to-cover ratio is presently 2.1 days.

Enterprise Bancorp Trading Down 4.0 %

EBTC opened at $40.96 on Wednesday. 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’s 50 day simple moving average is $41.46 and its two-hundred day simple moving average is $36.59. Enterprise Bancorp has a 1-year low of $22.60 and a 1-year high of $44.41. The firm has a market capitalization of $510.28 million, a price-to-earnings ratio of 13.13 and a beta of 0.54.

Enterprise Bancorp (NASDAQ:EBTC) last released its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 EPS 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 business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.44%. 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. Enterprise Bancorp’s dividend payout ratio (DPR) is 32.05%.

Hedge Funds Weigh In On Enterprise Bancorp

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC acquired a new position in shares of Enterprise Bancorp in the third quarter worth $212,000. Wellington Management Group LLP acquired a new position in shares of Enterprise Bancorp during the third quarter worth $2,043,000. State Street Corp grew its stake in shares of Enterprise Bancorp by 1.7% during the third quarter. State Street Corp now owns 200,176 shares of the savings and loans company’s stock worth $6,398,000 after purchasing an additional 3,257 shares in the last quarter. Barclays PLC grew its stake in shares of Enterprise Bancorp by 69.6% during the third quarter. Barclays PLC now owns 22,836 shares of the savings and loans company’s stock worth $729,000 after purchasing an additional 9,373 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enterprise Bancorp during the third quarter worth $223,000. Institutional investors and hedge funds own 38.93% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Enterprise Bancorp in a research note on Saturday. They issued a “hold” rating on the stock.

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.