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

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

Enterprise Bancorp Price Performance

Shares of EBTC stock opened at $39.95 on Thursday. Enterprise Bancorp has a 12 month low of $22.60 and a 12 month high of $44.08. The company has a market capitalization of $496.54 million, a P/E ratio of 13.78 and a beta of 0.56. The stock has a 50 day moving average of $36.04 and a two-hundred day moving average of $30.66. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

Hedge Funds Weigh In On Enterprise Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in EBTC. SG Americas Securities LLC bought a new stake in Enterprise Bancorp in the third quarter valued at about $111,000. Private Advisor Group LLC bought a new stake in shares of Enterprise Bancorp in the 3rd quarter valued at approximately $212,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Enterprise Bancorp in the 3rd quarter valued at approximately $223,000. Cabot Wealth Management Inc. acquired a new position in shares of Enterprise Bancorp in the 3rd quarter worth approximately $234,000. Finally, Rhumbline Advisers lifted its position in shares of Enterprise Bancorp by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock worth $375,000 after buying an additional 406 shares during the period. 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.