JPMorgan Chase & Co. Grows Stock Holdings in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

JPMorgan Chase & Co. grew its position in Enterprise Bancorp, Inc. (NASDAQ:EBTC) by 170.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,762 shares of the savings and loans company’s stock after acquiring an additional 13,084 shares during the quarter. JPMorgan Chase & Co. owned about 0.17% of Enterprise Bancorp worth $664,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EBTC. Wellington Management Group LLP purchased a new stake in shares of Enterprise Bancorp in the third quarter valued at $2,043,000. Assenagon Asset Management S.A. raised its stake in shares of Enterprise Bancorp by 102.2% in the third quarter. Assenagon Asset Management S.A. now owns 65,591 shares of the savings and loans company’s stock valued at $2,096,000 after acquiring an additional 33,153 shares during the period. American Century Companies Inc. raised its stake in shares of Enterprise Bancorp by 35.4% in the second quarter. American Century Companies Inc. now owns 55,751 shares of the savings and loans company’s stock valued at $1,387,000 after acquiring an additional 14,563 shares during the period. Siena Capital Partners GP LLC raised its stake in shares of 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 valued at $4,771,000 after acquiring an additional 13,222 shares during the period. Finally, Barclays PLC raised its stake in shares of Enterprise Bancorp by 69.6% in the third quarter. Barclays PLC now owns 22,836 shares of the savings and loans company’s stock valued at $729,000 after acquiring an additional 9,373 shares during the period. Hedge funds and other institutional investors own 38.93% of the company’s stock.

Enterprise Bancorp Stock Up 2.3 %

NASDAQ:EBTC opened at $42.70 on Tuesday. Enterprise Bancorp, Inc. has a fifty-two week low of $22.60 and a fifty-two week high of $44.08. The stock has a market capitalization of $530.72 million, a P/E ratio of 14.72 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. The company’s 50-day simple moving average is $39.41 and its 200-day simple moving average is $33.90.

Enterprise Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 2.34%. Enterprise Bancorp’s dividend payout ratio (DPR) is currently 34.48%.

Wall Street Analysts Forecast Growth

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

Enterprise Bancorp 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.