Wellington Management Group LLP Buys Shares of 63,923 Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Wellington Management Group LLP purchased a new position in Enterprise Bancorp, Inc. (NASDAQ:EBTC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 63,923 shares of the savings and loans company’s stock, valued at approximately $2,043,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Enterprise Bancorp in the third quarter worth about $111,000. Private Advisor Group LLC acquired a new position in Enterprise Bancorp during the 3rd quarter valued at about $212,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Enterprise Bancorp during the 3rd quarter worth about $223,000. Cabot Wealth Management Inc. acquired a new stake in shares of Enterprise Bancorp in the 3rd quarter worth approximately $234,000. Finally, Rhumbline Advisers boosted its holdings in shares of Enterprise Bancorp by 2.8% in the second quarter. Rhumbline Advisers now owns 15,083 shares of the savings and loans company’s stock valued at $375,000 after acquiring an additional 406 shares in the last quarter. Institutional investors own 38.93% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Enterprise Bancorp in a report on Thursday. They set a “hold” rating on the stock.

Enterprise Bancorp Trading Down 5.2 %

Shares of Enterprise Bancorp stock opened at $39.95 on Thursday. The business has a fifty day simple moving average of $36.04 and a 200-day simple moving average of $30.66. Enterprise Bancorp, Inc. has a fifty-two week low of $22.60 and a fifty-two week high of $44.08. The firm has a market cap of $496.54 million, a price-to-earnings ratio of 13.78 and a beta of 0.56. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

Enterprise Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, November 8th. Enterprise Bancorp’s payout ratio is 33.10%.

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.