Magnetar Financial LLC Makes New Investment in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Magnetar Financial LLC bought a new stake in Enterprise Bancorp, Inc. (NASDAQ:EBTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 64,787 shares of the savings and loans company’s stock, valued at approximately $2,562,000. Magnetar Financial LLC owned approximately 0.52% of Enterprise Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in Enterprise Bancorp in the third quarter valued at approximately $2,043,000. ABC Arbitrage SA bought a new position in Enterprise Bancorp during the 4th quarter worth $2,342,000. Spinnaker Trust bought a new position in Enterprise Bancorp during the fourth quarter worth about $1,689,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Enterprise Bancorp during the fourth quarter worth approximately $1,114,000. Finally, Siena Capital Partners GP LLC increased its stake in Enterprise Bancorp by 9.7% during the 3rd quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company’s stock worth $4,771,000 after acquiring an additional 13,222 shares during the period. Institutional investors and hedge funds own 38.93% of the company’s stock.

Enterprise Bancorp Trading Down 1.4 %

Shares of Enterprise Bancorp stock opened at $39.19 on Friday. The firm has a market capitalization of $488.27 million, a PE ratio of 12.56 and a beta of 0.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $41.46 and its 200 day moving average is $37.36. Enterprise Bancorp, Inc. has a 1 year low of $22.60 and a 1 year high of $44.41.

Enterprise Bancorp (NASDAQ:EBTC) last issued its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share for the quarter. Enterprise Bancorp had a return on equity of 11.15% and a net margin of 15.30%.

Enterprise Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 2.55%. Enterprise Bancorp’s dividend payout ratio is presently 32.05%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Enterprise Bancorp in a report on Monday. They issued a “hold” rating on the stock.

Enterprise Bancorp Profile

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.