Assenagon Asset Management S.A. Lowers Position in Enterprise Bancorp Inc (NASDAQ:EBTC)

Assenagon Asset Management S.A. decreased its holdings in Enterprise Bancorp Inc (NASDAQ:EBTC - Free Report) by 79.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,660 shares of the savings and loans company's stock after selling 25,672 shares during the period. Assenagon Asset Management S.A. owned approximately 0.05% of Enterprise Bancorp worth $259,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EBTC. Magnetar Financial LLC bought a new position in shares of Enterprise Bancorp in the 4th quarter valued at $2,562,000. Gardner Lewis Asset Management L P bought a new stake in Enterprise Bancorp during the 4th quarter worth $1,521,000. Ategra Capital Management LLC grew its position in Enterprise Bancorp by 44.2% during the 4th quarter. Ategra Capital Management LLC now owns 100,463 shares of the savings and loans company's stock worth $3,972,000 after acquiring an additional 30,802 shares during the last quarter. Yakira Capital Management Inc. bought a new stake in Enterprise Bancorp during the 4th quarter worth $1,186,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Enterprise Bancorp during the 4th quarter worth $1,114,000. Institutional investors own 38.93% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on Enterprise Bancorp in a research report on Tuesday, May 20th. They set a "hold" rating on the stock.

Enterprise Bancorp Stock Up 2.6%

EBTC stock traded up $1.01 during trading on Monday, reaching $39.44. 21,529 shares of the stock were exchanged, compared to its average volume of 29,506. The firm's 50 day moving average is $38.48 and its 200 day moving average is $39.66. Enterprise Bancorp Inc has a twelve month low of $22.60 and a twelve month high of $44.41. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.40. The firm has a market cap of $493.39 million, a P/E ratio of 12.06 and a beta of 0.75.

Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The savings and loans company reported $0.84 earnings per share for the quarter. Enterprise Bancorp had a return on equity of 11.18% and a net margin of 15.74%. The business had revenue of $43.88 million for the quarter.

Enterprise Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Monday, May 12th. Enterprise Bancorp's payout ratio is currently 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.