Assenagon Asset Management S.A. Cuts Stake in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Assenagon Asset Management S.A. decreased its position in Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) by 50.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 0.26% of Enterprise Bancorp worth $1,278,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of EBTC. SG Americas Securities LLC bought a new stake in Enterprise Bancorp in the third quarter worth about $111,000. Private Advisor Group LLC bought a new stake in shares of Enterprise Bancorp in the 3rd quarter worth approximately $212,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Enterprise Bancorp in the 3rd quarter worth approximately $223,000. Cabot Wealth Management Inc. purchased a new position in Enterprise Bancorp in the third quarter valued at approximately $234,000. Finally, Rhumbline Advisers grew its holdings in 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 period. Institutional investors own 38.93% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Enterprise Bancorp in a research note on Monday. They issued a "hold" rating on the stock.

Enterprise Bancorp Stock Performance

Enterprise Bancorp stock traded up $0.30 during midday trading on Friday, reaching $41.74. The stock had a trading volume of 33,767 shares, compared to its average volume of 43,904. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $518.79 million, a PE ratio of 14.39 and a beta of 0.54. Enterprise Bancorp, Inc. has a 12 month low of $22.60 and a 12 month high of $44.08. The firm's 50-day moving average price is $39.28 and its 200 day moving average price is $33.64.

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

Enterprise Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, February 10th. This is an increase from Enterprise Bancorp's previous quarterly dividend of $0.24. Enterprise Bancorp's dividend payout ratio (DPR) is 34.48%.

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.