Millennium Management LLC Purchases New Shares in Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Millennium Management LLC bought a new position in Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,026 shares of the savings and loans company's stock, valued at approximately $871,000. Millennium Management LLC owned 0.18% of Enterprise Bancorp at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings 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 worth $175,000 after acquiring an additional 948 shares during the period. Empowered Funds LLC grew its position in 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 worth $2,409,000 after purchasing an additional 2,910 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Enterprise Bancorp in the fourth quarter valued at approximately $2,342,000. Rhumbline Advisers raised its holdings in shares of Enterprise Bancorp by 10.0% during the fourth quarter. Rhumbline Advisers now owns 16,009 shares of the savings and loans company's stock valued at $633,000 after buying an additional 1,452 shares during the last quarter. Finally, Spinnaker Trust bought a new stake in shares of Enterprise Bancorp during the fourth quarter valued at approximately $1,689,000. 38.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Enterprise Bancorp Stock Performance

Shares of EBTC traded up $0.51 during trading hours on Tuesday, reaching $41.05. 20,520 shares of the company's stock traded hands, compared to its average volume of 29,366. Enterprise Bancorp, Inc. has a twelve month low of $22.60 and a twelve month high of $44.41. The business's fifty day simple moving average is $37.64 and its two-hundred day simple moving average is $39.47. 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 firm has a market capitalization of $513.45 million, a price-to-earnings ratio of 13.16 and a beta of 0.75.

Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) last released its 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 net margin of 15.30% and a return on equity of 11.15%.

Enterprise Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. 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.