Enterprise Bancorp (EBTC) Raised to Sell at BidaskClub

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BidaskClub upgraded shares of Enterprise Bancorp (NASDAQ:EBTC) from a strong sell rating to a sell rating in a report published on Friday.

Shares of EBTC stock opened at $31.79 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $402.19 million, a P/E ratio of 14.76 and a beta of 0.74. Enterprise Bancorp has a one year low of $30.35 and a one year high of $44.14.

Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings results on Thursday, July 19th. The savings and loans company reported $0.64 EPS for the quarter. The business had revenue of $30.95 million for the quarter. Enterprise Bancorp had a return on equity of 11.76% and a net margin of 17.47%.

Hedge funds have recently made changes to their positions in the stock. Martingale Asset Management L P boosted its stake in Enterprise Bancorp by 102.5% in the 2nd quarter. Martingale Asset Management L P now owns 16,004 shares of the savings and loans company’s stock valued at $648,000 after buying an additional 8,100 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Enterprise Bancorp by 19.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 17,331 shares of the savings and loans company’s stock valued at $612,000 after buying an additional 2,800 shares in the last quarter. Bessemer Group Inc. boosted its stake in Enterprise Bancorp by 383.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,900 shares of the savings and loans company’s stock valued at $117,000 after buying an additional 2,300 shares in the last quarter. First Trust Advisors LP boosted its stake in Enterprise Bancorp by 18.7% in the 2nd quarter. First Trust Advisors LP now owns 9,798 shares of the savings and loans company’s stock valued at $396,000 after buying an additional 1,546 shares in the last quarter. Finally, Northern Trust Corp raised its position in Enterprise Bancorp by 5.2% in the 2nd quarter. Northern Trust Corp now owns 109,533 shares of the savings and loans company’s stock valued at $4,428,000 after purchasing an additional 5,388 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

About Enterprise Bancorp

Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that provides various banking products and services primarily in the greater Merrimack Valley and North Central regions of Massachusetts and Southern New Hampshire. The company offers commercial checking, business and municipal savings accounts, term certificates of deposit, money market and business sweep accounts, interest on lawyers trust accounts, escrow management accounts, personal checking accounts, savings accounts, and individual retirement accounts, as well as checking and simplified employee pension accounts.

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