Enterprise Bancorp, Inc. Declares Quarterly Dividend of $0.24 (NASDAQ:EBTC)

Enterprise Bancorp, Inc. (NASDAQ:EBTC - Get Free Report) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.24 per share by the savings and loans company on Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Friday, May 10th.

Enterprise Bancorp has raised its dividend by an average of 9.5% annually over the last three years and has raised its dividend every year for the last 18 years.

Enterprise Bancorp Trading Down 0.8 %

Shares of EBTC traded down $0.18 during mid-day trading on Thursday, hitting $23.50. The company had a trading volume of 30,801 shares, compared to its average volume of 25,292. Enterprise Bancorp has a 1-year low of $23.01 and a 1-year high of $34.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.26. The business's 50-day simple moving average is $25.79 and its 200-day simple moving average is $27.58. The stock has a market cap of $288.58 million, a PE ratio of 7.58 and a beta of 0.61.

Enterprise Bancorp (NASDAQ:EBTC - Get Free Report) last issued its earnings results on Thursday, January 25th. The savings and loans company reported $0.64 earnings per share for the quarter. The firm had revenue of $42.07 million for the quarter. Enterprise Bancorp had a return on equity of 12.20% and a net margin of 17.41%.

Insider Transactions at Enterprise Bancorp

In other Enterprise Bancorp news, Director Michael T. Putziger bought 1,755 shares of Enterprise Bancorp stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $27.46 per share, for a total transaction of $48,192.30. Following the acquisition, the director now owns 206,075 shares of the company's stock, valued at approximately $5,658,819.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 21.69% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in shares of Enterprise Bancorp during the 1st quarter valued at approximately $19,516,000. BlackRock Inc. raised its holdings in shares of Enterprise Bancorp by 10.8% during the second quarter. BlackRock Inc. now owns 691,689 shares of the savings and loans company's stock worth $20,017,000 after purchasing an additional 67,406 shares during the period. HighTower Advisors LLC bought a new position in shares of Enterprise Bancorp in the 1st quarter worth about $1,757,000. The Manufacturers Life Insurance Company acquired a new position in Enterprise Bancorp in the fourth quarter valued at approximately $1,257,000. Finally, American Century Companies Inc. acquired a new stake in shares of Enterprise Bancorp during the 1st quarter worth approximately $720,000. 38.93% of the stock is owned by institutional investors and hedge funds.

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.