Spinnaker Trust Takes Position in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Spinnaker Trust acquired a new stake in Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 42,728 shares of the savings and loans company's stock, valued at approximately $1,689,000. Spinnaker Trust owned approximately 0.34% of Enterprise Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Enterprise Bancorp in the 3rd quarter valued at $2,043,000. ABC Arbitrage SA acquired a new position in Enterprise Bancorp in the fourth quarter valued at approximately $2,342,000. Assenagon Asset Management S.A. grew its position in Enterprise Bancorp by 102.2% in the third quarter. Assenagon Asset Management S.A. now owns 65,591 shares of the savings and loans company's stock worth $2,096,000 after acquiring an additional 33,153 shares during the period. Siena Capital Partners GP LLC increased its stake in Enterprise Bancorp by 9.7% during the third quarter. Siena Capital Partners GP LLC now owns 149,289 shares of the savings and loans company's stock worth $4,771,000 after acquiring an additional 13,222 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in 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. Hedge funds and other institutional investors own 38.93% of the company's stock.

Enterprise Bancorp Trading Down 1.0 %

Shares of EBTC stock traded down $0.42 during trading hours on Wednesday, hitting $43.16. The company had a trading volume of 9,777 shares, compared to its average volume of 38,367. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $536.42 million, a PE ratio of 13.84 and a beta of 0.54. The company's fifty day moving average is $41.23 and its 200 day moving average is $35.57. Enterprise Bancorp, Inc. has a fifty-two week low of $22.60 and a fifty-two week high of $44.41.

Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) last released its quarterly 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 declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This is a positive change from Enterprise Bancorp's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. Enterprise Bancorp's dividend payout ratio is 32.05%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Enterprise Bancorp in a research report on Thursday, February 13th. They set a "hold" rating for the company.

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.