64,787 Shares in Enterprise Bancorp, Inc. (NASDAQ:EBTC) Acquired by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 64,787 shares of the savings and loans company's stock, valued at approximately $2,562,000. Magnetar Financial LLC owned about 0.52% of Enterprise Bancorp at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its position in shares of Enterprise Bancorp by 36.6% in the 4th quarter. Picton Mahoney Asset Management now owns 884 shares of the savings and loans company's stock worth $35,000 after purchasing an additional 237 shares during the last quarter. SG Americas Securities LLC increased its stake 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 purchasing an additional 948 shares in the last quarter. Martingale Asset Management L P raised its holdings in Enterprise Bancorp by 6.0% in the third quarter. Martingale Asset Management L P now owns 25,641 shares of the savings and loans company's stock worth $819,000 after buying an additional 1,441 shares during the last quarter. Rhumbline Advisers raised its holdings in Enterprise Bancorp by 10.0% in the fourth quarter. Rhumbline Advisers now owns 16,009 shares of the savings and loans company's stock worth $633,000 after buying an additional 1,452 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Enterprise Bancorp by 5.0% in the fourth quarter. Empowered Funds LLC now owns 60,917 shares of the savings and loans company's stock worth $2,409,000 after buying an additional 2,910 shares in the last quarter. 38.93% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Enterprise Bancorp in a report on Tuesday. They issued a "hold" rating for the company.

Enterprise Bancorp Stock Performance

Shares of Enterprise Bancorp stock traded down $0.03 during trading on Tuesday, hitting $40.13. 36,252 shares of the company's stock traded hands, compared to its average volume of 26,537. Enterprise Bancorp, Inc. has a 1 year low of $22.60 and a 1 year high of $44.41. The business has a 50-day simple moving average of $41.55 and a 200-day simple moving average of $37.59. The stock has a market capitalization of $499.98 million, a P/E ratio of 12.86 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92.

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

Enterprise Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 2.49%. This is a boost from Enterprise Bancorp's previous quarterly dividend of $0.24. Enterprise Bancorp's dividend payout ratio (DPR) is currently 32.05%.

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.