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

Enterprise Bancorp, Inc. (NASDAQ:EBTC) was the target of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 74,300 shares, an increase of 30.4% from the November 15th total of 57,000 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily volume of 26,300 shares, the days-to-cover ratio is presently 2.8 days.

Enterprise Bancorp Trading Down 1.1 %

Shares of NASDAQ EBTC traded down $0.46 during mid-day trading on Friday, reaching $42.75. 94,686 shares of the company’s stock were exchanged, compared to its average volume of 24,398. The firm has a market capitalization of $531.38 million, a price-to-earnings ratio of 14.74 and a beta of 0.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. Enterprise Bancorp has a 52-week low of $22.60 and a 52-week high of $44.08. The company’s 50-day moving average is $35.40 and its 200-day moving average is $30.30.

Enterprise Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, November 8th. Enterprise Bancorp’s dividend payout ratio is presently 33.10%.

Hedge Funds Weigh In On Enterprise Bancorp

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Enterprise Bancorp during the 3rd quarter worth about $111,000. Private Advisor Group LLC acquired a new position in Enterprise Bancorp during the 3rd quarter worth about $212,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enterprise Bancorp during the 3rd quarter worth about $223,000. Cabot Wealth Management Inc. acquired a new stake in Enterprise Bancorp in the 3rd quarter valued at about $234,000. Finally, Rhumbline Advisers boosted its stake in shares of Enterprise Bancorp by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock valued at $375,000 after buying an additional 406 shares during the period. 38.93% of the stock is currently owned by hedge funds and other 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.