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

Equities research analysts at StockNews.com began coverage on shares of Enterprise Bancorp (NASDAQ:EBTC) in a research note issued to investors on Sunday. The firm set a “hold” rating on the savings and loans company’s stock.

Enterprise Bancorp Price Performance

EBTC stock opened at $37.23 on Friday. The firm has a 50 day moving average price of $38.38 and a 200-day moving average price of $32.52. Enterprise Bancorp has a 52-week low of $22.60 and a 52-week high of $44.08. The firm has a market capitalization of $462.73 million, a price-to-earnings ratio of 12.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92.

Hedge Funds Weigh In On Enterprise Bancorp

Several large investors have recently made changes to their positions in EBTC. Bank of New York Mellon Corp raised its holdings in Enterprise Bancorp by 14.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,010 shares of the savings and loans company’s stock worth $971,000 after acquiring an additional 4,824 shares during the last quarter. Rhumbline Advisers raised its stake in Enterprise Bancorp by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock valued at $375,000 after buying an additional 406 shares during the last quarter. American Century Companies Inc. raised its stake in Enterprise Bancorp by 35.4% during the 2nd quarter. American Century Companies Inc. now owns 55,751 shares of the savings and loans company’s stock valued at $1,387,000 after buying an additional 14,563 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Enterprise Bancorp by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 353,592 shares of the savings and loans company’s stock valued at $8,797,000 after buying an additional 8,216 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Enterprise Bancorp during the 3rd quarter valued at $111,000. 38.93% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Bancorp Company Profile

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.