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

Bank of New York Mellon Corp reduced its holdings in Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) by 20.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.20% of Enterprise Bancorp worth $995,000 at the end of the most recent quarter.

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

Enterprise Bancorp Price Performance

Shares of NASDAQ:EBTC traded down $1.13 during trading on Friday, hitting $38.87. 15,719 shares of the stock were exchanged, compared to its average volume of 27,874. The company has a market cap of $484.28 million, a PE ratio of 12.46 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 company has a fifty day moving average price of $41.55 and a two-hundred day moving average price of $37.69. Enterprise Bancorp, Inc. has a 12-month low of $22.60 and a 12-month high of $44.41.

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Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) last posted its earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This is a positive change from Enterprise Bancorp's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 2.57%. Enterprise Bancorp's payout ratio is currently 32.05%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Enterprise Bancorp in a report on Tuesday. They set a "hold" rating on the stock.

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.