Enterprise Bancorp, Inc. (NASDAQ:EBTC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its stake in shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC - Free Report) by 63.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,333 shares of the savings and loans company's stock after selling 40,590 shares during the period. Wellington Management Group LLP owned 0.19% of Enterprise Bancorp worth $923,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BridgePort Financial Solutions LLC purchased a new position in shares of Enterprise Bancorp in the fourth quarter worth about $321,000. Millennium Management LLC purchased a new position in shares of Enterprise Bancorp in the fourth quarter worth about $871,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Enterprise Bancorp by 5.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,683 shares of the savings and loans company's stock worth $225,000 after buying an additional 301 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Enterprise Bancorp by 319.1% in the fourth quarter. Deutsche Bank AG now owns 7,397 shares of the savings and loans company's stock worth $292,000 after buying an additional 5,632 shares in the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of Enterprise Bancorp by 31.8% in the fourth quarter. Citadel Advisors LLC now owns 9,804 shares of the savings and loans company's stock worth $388,000 after buying an additional 2,367 shares in the last quarter. 38.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Enterprise Bancorp Trading Up 3.1%

Enterprise Bancorp stock traded up $1.20 during midday trading on Friday, hitting $40.00. 28,574 shares of the stock were exchanged, compared to its average volume of 29,289. Enterprise Bancorp, Inc. has a fifty-two week low of $22.60 and a fifty-two week high of $44.41. The stock has a market capitalization of $500.32 million, a price-to-earnings ratio of 12.82 and a beta of 0.75. The stock's 50-day simple moving average is $37.51 and its 200 day simple moving average is $39.39. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) last released 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 net margin of 15.30% and a return on equity of 11.15%. The firm had revenue of $43.88 million during the quarter.

Enterprise Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Monday, May 12th. Enterprise Bancorp's dividend payout ratio 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.