StockNews.com Initiates Coverage on Enterprise Bancorp (NASDAQ:EBTC)

StockNews.com initiated coverage on shares of Enterprise Bancorp (NASDAQ:EBTC) in a report issued on Friday. The brokerage set a “hold” rating on the savings and loans company’s stock.

Enterprise Bancorp Price Performance

Shares of EBTC stock opened at $40.25 on Friday. 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 fifty-two week low of $22.60 and a fifty-two week high of $44.08. The firm has a market cap of $500.27 million, a P/E ratio of 13.88 and a beta of 0.56. The business’s 50 day moving average price is $36.91 and its 200-day moving average price is $31.27.

Hedge Funds Weigh In On Enterprise Bancorp

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in Enterprise Bancorp during the 3rd quarter valued at approximately $2,043,000. Assenagon Asset Management S.A. lifted its stake in shares of Enterprise Bancorp by 102.2% in the 3rd 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 purchasing an additional 33,153 shares during the period. American Century Companies Inc. boosted its position in shares of 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. Siena Capital Partners GP LLC grew its stake in Enterprise Bancorp by 9.7% in the third quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company’s stock worth $4,771,000 after purchasing an additional 13,222 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Enterprise Bancorp by 170.4% in the third quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock worth $664,000 after purchasing an additional 13,084 shares in the last quarter. 38.93% of the stock is 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.