Wellington Management Group LLP Invests $2.04 Million in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Wellington Management Group LLP bought a new position in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 63,923 shares of the savings and loans company's stock, valued at approximately $2,043,000. Wellington Management Group LLP owned 0.51% of Enterprise Bancorp at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers lifted 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 purchasing an additional 406 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of 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 in the last quarter. Empowered Funds LLC boosted its position in shares of Enterprise Bancorp by 5.4% during the third quarter. Empowered Funds LLC now owns 58,007 shares of the savings and loans company's stock worth $1,854,000 after acquiring an additional 2,948 shares during the last quarter. State Street Corp grew its stake 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 valued at $6,398,000 after acquiring an additional 3,257 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Enterprise Bancorp in the 3rd quarter valued at $111,000. 38.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Enterprise Bancorp Trading Down 0.7 %

Shares of EBTC traded down $0.27 during mid-day trading on Thursday, reaching $39.68. 44,894 shares of the company's stock traded hands, compared to its average volume of 24,880. 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's 50-day moving average is $36.21 and its two-hundred day moving average is $30.72. Enterprise Bancorp, Inc. has a 12 month low of $22.60 and a 12 month high of $44.08. The stock has a market cap of $493.18 million, a P/E ratio of 13.68 and a beta of 0.56.

Enterprise Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, November 8th. Enterprise Bancorp's dividend payout ratio is presently 33.10%.

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.