Wellington Management Group LLP Sells 40,590 Shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Wellington Management Group LLP cut its stake in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) by 63.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,333 shares of the savings and loans company's stock after selling 40,590 shares during the quarter. Wellington Management Group LLP owned approximately 0.19% of Enterprise Bancorp worth $923,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its position in Enterprise Bancorp by 36.6% in the fourth quarter. Picton Mahoney Asset Management now owns 884 shares of the savings and loans company's stock valued at $35,000 after buying an additional 237 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Enterprise Bancorp by 27.3% in the fourth quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company's stock valued at $175,000 after acquiring an additional 948 shares during the last quarter. Harbor Group Inc. acquired a new position in shares of Enterprise Bancorp in the 4th quarter worth approximately $203,000. Raymond James Financial Inc. acquired a new position in shares of Enterprise Bancorp in the 4th quarter worth approximately $278,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Enterprise Bancorp by 79.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,476 shares of the savings and loans company's stock worth $493,000 after acquiring an additional 5,508 shares during the last quarter. Institutional investors and hedge funds own 38.93% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Enterprise Bancorp in a research report on Friday. They issued a "hold" rating for the company.

Enterprise Bancorp Trading Up 0.4 %

NASDAQ:EBTC traded up $0.15 on Friday, hitting $35.03. 30,183 shares of the stock were exchanged, compared to its average volume of 28,563. Enterprise Bancorp, Inc. has a 52 week low of $22.60 and a 52 week high of $44.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $436.44 million, a price-to-earnings ratio of 11.23 and a beta of 0.56. The company's 50-day moving average price is $39.12 and its 200 day moving average price is $38.18.

Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The savings and loans company reported $0.84 earnings per share (EPS) for the quarter. Enterprise Bancorp had a return on equity of 11.15% and a net margin of 15.30%. The business had revenue of $43.88 million during the quarter.

Enterprise Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, May 12th. Enterprise Bancorp's payout ratio is presently 32.05%.

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.