StockNews.com Initiates Coverage on Enterprise Bancorp (NASDAQ:EBTC)

StockNews.com initiated coverage on shares of Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) in a research report issued on Thursday. The firm set a "hold" rating on the savings and loans company's stock.

Enterprise Bancorp Stock Down 0.7 %

Shares of EBTC stock traded down $0.27 during trading on Thursday, reaching $39.68. The company's stock had a trading volume of 44,894 shares, compared to its average volume of 24,880. 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 business has a fifty day moving average price of $36.04 and a 200-day moving average price of $30.66. Enterprise Bancorp has a one year low of $22.60 and a one year high of $44.08. The company has a market cap of $493.18 million, a price-to-earnings ratio of 13.68 and a beta of 0.56.

Hedge Funds Weigh In On Enterprise Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Enterprise Bancorp during the third quarter worth about $111,000. Private Advisor Group LLC purchased a new position in shares of Enterprise Bancorp in the third quarter worth $212,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enterprise Bancorp in the 3rd quarter valued at about $223,000. Cabot Wealth Management Inc. acquired a new position in Enterprise Bancorp in the 3rd quarter worth about $234,000. Finally, Rhumbline Advisers boosted its holdings in Enterprise Bancorp by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company's stock worth $375,000 after buying an additional 406 shares during the last quarter. Hedge funds and other institutional investors own 38.93% of the company's stock.

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.