Enterprise Bancorp, Inc. (NASDAQ:EBTC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Enterprise Bancorp, Inc. (NASDAQ:EBTC) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,162 shares of the savings and loans company’s stock after selling 6,604 shares during the quarter. Bank of New York Mellon Corp owned 0.20% of Enterprise Bancorp worth $995,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Enterprise Bancorp by 27.3% during the 4th quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company’s stock valued at $175,000 after acquiring an additional 948 shares during the period. Harbor Group Inc. acquired a new stake in shares of Enterprise Bancorp during the fourth quarter worth about $203,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enterprise Bancorp in the third quarter valued at approximately $223,000. Rhumbline Advisers grew its holdings in shares of Enterprise Bancorp by 10.0% in the fourth quarter. Rhumbline Advisers now owns 16,009 shares of the savings and loans company’s stock valued at $633,000 after purchasing an additional 1,452 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Enterprise Bancorp by 170.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock worth $664,000 after buying an additional 13,084 shares during the period. Hedge funds and other institutional investors own 38.93% of the company’s stock.

Enterprise Bancorp Trading Up 3.3 %

NASDAQ:EBTC opened at $40.16 on Tuesday. Enterprise Bancorp, Inc. has a 12-month low of $22.60 and a 12-month high of $44.41. The firm has a market cap of $500.35 million, a PE ratio of 12.87 and a beta of 0.49. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $41.55 and a 200 day moving average price of $37.59.

Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share (EPS) for the quarter. Enterprise Bancorp had a return on equity of 11.15% and a net margin of 15.30%.

Enterprise Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Enterprise Bancorp’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, February 10th. Enterprise Bancorp’s dividend payout ratio (DPR) is presently 32.05%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Enterprise Bancorp in a research report on Tuesday. They issued a “hold” rating for the company.

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.