Pallas Capital Advisors LLC Sells 9,683 Shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Pallas Capital Advisors LLC lessened its holdings in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) by 64.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,296 shares of the savings and loans company's stock after selling 9,683 shares during the period. Pallas Capital Advisors LLC's holdings in Enterprise Bancorp were worth $209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC bought a new position in shares of Enterprise Bancorp during the 3rd quarter worth approximately $212,000. Wellington Management Group LLP acquired a new position in Enterprise Bancorp during the third quarter worth $2,043,000. State Street Corp boosted its holdings in Enterprise Bancorp by 1.7% during the third quarter. State Street Corp now owns 200,176 shares of the savings and loans company's stock worth $6,398,000 after purchasing an additional 3,257 shares during the last quarter. American Century Companies Inc. grew its position in 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 purchasing an additional 14,563 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Enterprise Bancorp by 102.2% in the 3rd 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 buying an additional 33,153 shares during the last quarter. 38.93% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Bancorp Stock Down 0.8 %

Shares of NASDAQ:EBTC traded down $0.34 during trading on Thursday, hitting $40.07. 29,765 shares of the company were exchanged, compared to its average volume of 45,646. The stock has a market cap of $498.07 million, a price-to-earnings ratio of 13.82 and a beta of 0.54. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33. Enterprise Bancorp, Inc. has a fifty-two week low of $22.60 and a fifty-two week high of $44.08. The firm has a fifty day moving average price of $38.67 and a two-hundred day moving average price of $32.84.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Enterprise Bancorp in a report on Sunday. 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.