Enterprise Bancorp (NASDAQ:EBTC) Shares Gap Up – What’s Next?

Enterprise Bancorp, Inc. (NASDAQ:EBTC)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $36.45, but opened at $41.50. Enterprise Bancorp shares last traded at $42.80, with a volume of 26,500 shares changing hands.

Enterprise Bancorp Stock Up 1.4 %

The stock has a market capitalization of $539.46 million, a P/E ratio of 14.76 and a beta of 0.56. The stock’s fifty day moving average is $34.46 and its two-hundred day moving average is $29.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92.

Enterprise Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, November 8th. Enterprise Bancorp’s payout ratio is 33.10%.

Hedge Funds Weigh In On Enterprise Bancorp

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in shares of Enterprise Bancorp during the third quarter valued at approximately $2,043,000. Assenagon Asset Management S.A. increased its stake in Enterprise Bancorp by 102.2% in the third quarter. Assenagon Asset Management S.A. now owns 65,591 shares of the savings and loans company’s stock valued at $2,096,000 after acquiring an additional 33,153 shares during the period. Vanguard Group Inc. lifted its stake in Enterprise Bancorp by 4.6% during the first quarter. Vanguard Group Inc. now owns 454,647 shares of the savings and loans company’s stock worth $11,807,000 after purchasing an additional 19,918 shares during the period. American Century Companies Inc. boosted its holdings in Enterprise Bancorp by 35.4% during the second quarter. American Century Companies Inc. now owns 55,751 shares of the savings and loans company’s stock valued at $1,387,000 after purchasing an additional 14,563 shares in the last quarter. Finally, Siena Capital Partners GP LLC grew its stake in shares of Enterprise Bancorp by 9.7% in the 3rd quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company’s stock valued at $4,771,000 after purchasing an additional 13,222 shares during the period. 38.93% of the stock is currently owned by institutional investors.

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.