Wellington Management Group LLP Purchases New Stake in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Wellington Management Group LLP acquired a new position in Enterprise Bancorp, Inc. (NASDAQ:EBTC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 63,923 shares of the savings and loans company’s stock, valued at approximately $2,043,000. Wellington Management Group LLP owned 0.51% of Enterprise Bancorp at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in EBTC. SG Americas Securities LLC bought a new position in shares of Enterprise Bancorp in the 3rd quarter worth about $111,000. Private Advisor Group LLC bought a new position in Enterprise Bancorp in the third quarter worth about $212,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enterprise Bancorp in the third quarter valued at approximately $223,000. Cabot Wealth Management Inc. acquired a new position in Enterprise Bancorp in the third quarter valued at approximately $234,000. Finally, Rhumbline Advisers grew its holdings in shares of Enterprise Bancorp by 2.8% during the second quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock valued at $375,000 after purchasing an additional 406 shares during the last quarter. Institutional investors own 38.93% of the company’s stock.

Enterprise Bancorp Stock Performance

EBTC stock opened at $39.95 on Thursday. Enterprise Bancorp, Inc. has a 1 year low of $22.60 and a 1 year high of $44.08. The stock has a market capitalization of $496.54 million, a price-to-earnings ratio of 13.78 and a beta of 0.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average is $36.04 and its two-hundred day moving average is $30.66.

Enterprise Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a $0.24 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.96 annualized dividend and a yield of 2.40%. Enterprise Bancorp’s dividend payout ratio is presently 33.10%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Enterprise Bancorp in a report on Thursday. They issued a “hold” rating on the stock.

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.