Short Interest in Enterprise Bancorp, Inc. (NASDAQ:EBTC) Expands By 8.6%

Enterprise Bancorp, Inc. (NASDAQ:EBTC) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 80,700 shares, an increase of 8.6% from the November 30th total of 74,300 shares. Based on an average daily trading volume, of 31,100 shares, the short-interest ratio is currently 2.6 days. Currently, 0.9% of the company’s stock are short sold.

Enterprise Bancorp Trading Down 0.3 %

Enterprise Bancorp stock opened at $39.54 on Thursday. The stock has a 50-day simple moving average of $37.50 and a 200 day simple moving average of $31.77. The stock has a market capitalization of $491.44 million, a P/E ratio of 13.63 and a beta of 0.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. Enterprise Bancorp has a 52 week low of $22.60 and a 52 week high of $44.08.

Enterprise Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, November 8th. Enterprise Bancorp’s payout ratio is presently 33.10%.

Institutional Investors Weigh In On Enterprise Bancorp

A number of large investors have recently added to or reduced their stakes in EBTC. SG Americas Securities LLC acquired a new position in shares of Enterprise Bancorp in the third quarter valued at $111,000. Private Advisor Group LLC bought a new stake in shares of Enterprise Bancorp during the 3rd quarter worth about $212,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Enterprise Bancorp in the 3rd quarter valued at about $223,000. Cabot Wealth Management Inc. bought a new position in Enterprise Bancorp in the 3rd quarter valued at about $234,000. Finally, Rhumbline Advisers lifted its position in Enterprise Bancorp by 2.8% during the second quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock worth $375,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 38.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Enterprise Bancorp in a research note on Friday, December 27th. They issued a “hold” rating for the company.

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.