Enterprise Bancorp, Inc. (NASDAQ:EBTC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 238,344 shares of the savings and loans company's stock after selling 34,700 shares during the period. The Manufacturers Life Insurance Company owned 1.92% of Enterprise Bancorp worth $9,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EBTC. Barclays PLC boosted its stake in Enterprise Bancorp by 69.6% in the 3rd quarter. Barclays PLC now owns 22,836 shares of the savings and loans company's stock worth $729,000 after buying an additional 9,373 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Enterprise Bancorp by 170.4% in the 3rd 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 in the last quarter. Harbor Group Inc. acquired a new position in shares of Enterprise Bancorp in the 4th quarter valued at about $203,000. SG Americas Securities LLC lifted its stake in shares of Enterprise Bancorp by 27.3% in the 4th quarter. SG Americas Securities LLC now owns 4,421 shares of the savings and loans company's stock valued at $175,000 after purchasing an additional 948 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Enterprise Bancorp by 5.0% in the 4th quarter. Empowered Funds LLC now owns 60,917 shares of the savings and loans company's stock valued at $2,409,000 after purchasing an additional 2,910 shares in the last quarter. 38.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Enterprise Bancorp in a research note on Sunday, May 4th. They issued a "hold" rating on the stock.

Enterprise Bancorp Trading Down 0.4%

Shares of NASDAQ EBTC traded down $0.16 during midday trading on Friday, hitting $38.82. The stock had a trading volume of 12,315 shares, compared to its average volume of 28,502. The company has a fifty day moving average price of $37.52 and a 200 day moving average price of $38.83. The company has a market capitalization of $485.56 million, a price-to-earnings ratio of 12.44 and a beta of 0.73. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. Enterprise Bancorp, Inc. has a 1-year low of $22.60 and a 1-year high of $44.41.

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

Enterprise Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.58%. The ex-dividend date is Monday, May 12th. Enterprise Bancorp's dividend payout ratio (DPR) is presently 30.58%.

About Enterprise Bancorp

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.