Enterprise Bancorp, Inc (NASDAQ:EBTC) Short Interest Update
Enterprise Bancorp, Inc (NASDAQ:EBTC) saw a significant decline in short interest in July. As of July 15th, there was short interest totalling 36,300 shares, a decline of 36.5% from the June 15th total of 57,200 shares. Based on an average daily trading volume, of 7,700 shares, the short-interest ratio is presently 4.7 days. Currently, 0.4% of the company’s stock are sold short.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EBTC. Flagship Harbor Advisors LLC purchased a new stake in shares of Enterprise Bancorp during the second quarter valued at $46,000. BNP Paribas Arbitrage SA grew its holdings in shares of Enterprise Bancorp by 605.2% during the first quarter. BNP Paribas Arbitrage SA now owns 2,017 shares of the savings and loans company’s stock valued at $58,000 after buying an additional 1,731 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Enterprise Bancorp by 403.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,206 shares of the savings and loans company’s stock valued at $103,000 after buying an additional 2,569 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Enterprise Bancorp during the first quarter valued at $222,000. Finally, Bank of America Corp DE grew its holdings in shares of Enterprise Bancorp by 80.8% during the fourth quarter. Bank of America Corp DE now owns 8,320 shares of the savings and loans company’s stock valued at $268,000 after buying an additional 3,718 shares during the last quarter. 20.47% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ EBTC traded up $0.76 on Friday, hitting $29.00. The stock had a trading volume of 15,856 shares, compared to its average volume of 9,493. The business has a fifty day moving average of $29.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. Enterprise Bancorp has a 52-week low of $26.96 and a 52-week high of $38.87. The company has a market capitalization of $342.20 million, a PE ratio of 10.74 and a beta of 0.86.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, August 12th.
Separately, BidaskClub downgraded shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.
About Enterprise Bancorp
Enterprise Bancorp, Inc operates as the holding company for Enterprise Bank and Trust Company that provides various banking products and services primarily in the greater Merrimack Valley and North Central regions of Massachusetts and Southern New Hampshire. The company offers commercial checking, business and municipal savings accounts, term certificates of deposit, money market and business sweep accounts, interest on lawyers trust accounts, escrow management accounts, personal checking accounts, savings accounts, and individual retirement accounts, as well as checking and simplified employee pension accounts.
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