Enterprise Bancorp (NASDAQ:EBTC) Stock Rating Upgraded by BidaskClub

Share on StockTwits

Enterprise Bancorp (NASDAQ:EBTC) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday, BidAskClub reports.

EBTC opened at $29.00 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $348.60 million, a price-to-earnings ratio of 10.90 and a beta of 0.85. The firm has a 50 day simple moving average of $29.56 and a 200 day simple moving average of $29.52. Enterprise Bancorp has a fifty-two week low of $26.85 and a fifty-two week high of $36.50.

Enterprise Bancorp (NASDAQ:EBTC) last posted its quarterly earnings results on Thursday, October 17th. The savings and loans company reported $0.76 earnings per share for the quarter. The business had revenue of $33.57 million during the quarter. Enterprise Bancorp had a net margin of 21.64% and a return on equity of 11.96%.

In other Enterprise Bancorp news, Chairman George L. Duncan purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was acquired at an average cost of $28.48 per share, with a total value of $28,480.00. Following the completion of the purchase, the chairman now directly owns 342,685 shares in the company, valued at approximately $9,759,668.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 20.54% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new position in Enterprise Bancorp during the second quarter worth $46,000. Coastal Capital Group Inc. acquired a new position in Enterprise Bancorp during the second quarter worth $83,000. Acadian Asset Management LLC boosted its holdings in Enterprise Bancorp by 19.5% during the second quarter. Acadian Asset Management LLC now owns 2,718 shares of the savings and loans company’s stock worth $86,000 after purchasing an additional 443 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Enterprise Bancorp during the second quarter worth $271,000. Finally, Context BH Capital Management LP boosted its holdings in Enterprise Bancorp by 7.7% during the second quarter. Context BH Capital Management LP now owns 48,418 shares of the savings and loans company’s stock worth $1,535,000 after purchasing an additional 3,468 shares during the last quarter. 20.71% of the stock is owned by institutional investors and hedge funds.

Enterprise Bancorp Company Profile

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.

See Also: Does a trade war provide a risk to the global economy?

Receive News & Ratings for Enterprise Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.