Enterprise Bancorp (NASDAQ:EBTC) Hits New 52-Week High – What’s Next?

Shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC) reached a new 52-week high on Thursday . The company traded as high as $44.24 and last traded at $44.05, with a volume of 12205 shares traded. The stock had previously closed at $43.60.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Enterprise Bancorp in a research note on Wednesday. They issued a “hold” rating for the company.

Enterprise Bancorp Stock Performance

The company has a market capitalization of $546.92 million, a P/E ratio of 14.10 and a beta of 0.54. The company’s 50 day moving average is $40.25 and its 200-day moving average is $34.60. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

Enterprise Bancorp (NASDAQ:EBTC) last announced its earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share 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 will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.25 dividend. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Monday, February 10th. Enterprise Bancorp’s dividend payout ratio is currently 30.77%.

Institutional Trading of Enterprise Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Enterprise Bancorp during the third quarter valued at $111,000. Harbor Group Inc. purchased a new stake in shares of Enterprise Bancorp during the 4th quarter valued at about $203,000. Private Advisor Group LLC bought a new stake in shares of Enterprise Bancorp in the third quarter worth approximately $212,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Enterprise Bancorp during the third quarter valued at approximately $223,000. Finally, Cabot Wealth Management Inc. bought a new position in Enterprise Bancorp during the third quarter valued at approximately $234,000. 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.