Assenagon Asset Management S.A. Sells 33,259 Shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Assenagon Asset Management S.A. decreased its stake in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC) by 50.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,332 shares of the savings and loans company’s stock after selling 33,259 shares during the period. Assenagon Asset Management S.A. owned approximately 0.26% of Enterprise Bancorp worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Enterprise Bancorp by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 353,592 shares of the savings and loans company’s stock worth $8,797,000 after buying an additional 8,216 shares during the period. Geode Capital Management LLC boosted its position in shares of Enterprise Bancorp by 3.9% during the third quarter. Geode Capital Management LLC now owns 233,563 shares of the savings and loans company’s stock valued at $7,467,000 after purchasing an additional 8,703 shares in the last quarter. State Street Corp grew its stake in Enterprise Bancorp by 1.7% in the third quarter. State Street Corp now owns 200,176 shares of the savings and loans company’s stock worth $6,398,000 after purchasing an additional 3,257 shares during the period. Siena Capital Partners GP LLC grew its stake in Enterprise Bancorp by 9.7% in the third quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company’s stock worth $4,771,000 after purchasing an additional 13,222 shares during the period. Finally, Banc Funds Co. LLC raised its holdings in Enterprise Bancorp by 5.0% in the third quarter. Banc Funds Co. LLC now owns 106,004 shares of the savings and loans company’s stock worth $3,388,000 after purchasing an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 38.93% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Enterprise Bancorp in a report on Monday. They set a “hold” rating on the stock.

Enterprise Bancorp Price Performance

Shares of EBTC opened at $41.44 on Friday. Enterprise Bancorp, Inc. has a fifty-two week low of $22.60 and a fifty-two week high of $44.08. The firm’s 50-day simple moving average is $39.18 and its two-hundred day simple moving average is $33.51. The stock has a market cap of $515.10 million, a PE ratio of 14.29 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.

Enterprise Bancorp (NASDAQ:EBTC) last posted its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.80 earnings per share for the quarter. The company had revenue of $66.28 million for the quarter. Enterprise Bancorp had a return on equity of 10.48% and a net margin of 14.53%.

Enterprise Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.25 dividend. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, February 10th. Enterprise Bancorp’s dividend payout ratio is currently 33.10%.

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.