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

Enterprise Bancorp, Inc. (NASDAQ:EBTC) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 80,500 shares, a growth of 34.6% from the September 15th total of 59,800 shares. Based on an average daily volume of 23,400 shares, the days-to-cover ratio is currently 3.4 days. Approximately 0.9% of the shares of the company are sold short.

Institutional Trading of Enterprise Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EBTC. SG Americas Securities LLC acquired a new position in Enterprise Bancorp during the 3rd quarter valued at about $111,000. Cabot Wealth Management Inc. purchased a new position in shares of Enterprise Bancorp in the 3rd quarter worth about $234,000. Rhumbline Advisers increased its stake in shares of Enterprise Bancorp by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock worth $375,000 after purchasing an additional 406 shares during the last quarter. BNP Paribas Financial Markets increased its position in Enterprise Bancorp by 59.1% in the first quarter. BNP Paribas Financial Markets now owns 17,454 shares of the savings and loans company’s stock worth $453,000 after buying an additional 6,482 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Enterprise Bancorp during the first quarter valued at about $526,000. Institutional investors and hedge funds own 38.93% of the company’s stock.

Enterprise Bancorp Price Performance

Shares of NASDAQ:EBTC traded up $0.88 during trading on Tuesday, reaching $33.32. 20,981 shares of the company traded hands, compared to its average volume of 22,765. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.36. Enterprise Bancorp has a 52 week low of $22.60 and a 52 week high of $34.10. The firm has a market capitalization of $412.34 million, a PE ratio of 11.45 and a beta of 0.53. The company’s 50 day moving average is $30.25 and its two-hundred day moving average is $26.92.

Enterprise Bancorp (NASDAQ:EBTC) last issued its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.77 earnings per share for the quarter. The firm had revenue of $41.79 million for the quarter. Enterprise Bancorp had a return on equity of 10.94% and a net margin of 14.99%.

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.