Enterprise Bancorp, Inc. (NASDAQ:EBTC) Sees Significant Growth in Short Interest

Enterprise Bancorp, Inc. (NASDAQ:EBTC) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 41,800 shares, an increase of 20.8% from the June 30th total of 34,600 shares. Based on an average trading volume of 19,900 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.4% of the shares of the company are short sold.

Enterprise Bancorp Stock Performance

Shares of EBTC stock traded up $0.42 on Tuesday, hitting $29.27. The company had a trading volume of 10,233 shares, compared to its average volume of 22,735. The firm has a market cap of $362.36 million, a P/E ratio of 10.06 and a beta of 0.54. The company has a 50-day moving average price of $25.10 and a 200-day moving average price of $25.82. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.37. Enterprise Bancorp has a twelve month low of $22.60 and a twelve month high of $34.10.

Enterprise Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th will be issued a $0.24 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. Enterprise Bancorp’s dividend payout ratio (DPR) is presently 32.99%.

Hedge Funds Weigh In On Enterprise Bancorp

Several institutional investors and hedge funds have recently modified their holdings of EBTC. SG Americas Securities LLC increased its stake in shares of Enterprise Bancorp by 18.9% in the 4th quarter. SG Americas Securities LLC now owns 5,256 shares of the savings and loans company’s stock valued at $170,000 after purchasing an additional 835 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Enterprise Bancorp by 15.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 14,863 shares of the savings and loans company’s stock valued at $479,000 after purchasing an additional 2,000 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Enterprise Bancorp in the 4th quarter valued at about $212,000. BNP Paribas Financial Markets increased its stake in shares of Enterprise Bancorp by 42.7% in the 4th quarter. BNP Paribas Financial Markets now owns 10,972 shares of the savings and loans company’s stock valued at $354,000 after purchasing an additional 3,284 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of Enterprise Bancorp by 2.2% in the 4th quarter. Panagora Asset Management Inc. now owns 35,961 shares of the savings and loans company’s stock valued at $1,160,000 after purchasing an additional 757 shares in the last quarter. Hedge funds and other 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.