Enterprise Bancorp (EBTC) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Enterprise Bancorp (NASDAQ:EBTC) from a strong sell rating to a sell rating in a research report sent to investors on Friday morning.

EBTC traded down $0.79 during midday trading on Friday, hitting $31.79. 12,548 shares of the company traded hands, compared to its average volume of 10,663. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $402.19 million, a P/E ratio of 14.76 and a beta of 0.74. Enterprise Bancorp has a 52 week low of $30.35 and a 52 week high of $44.14.

Enterprise Bancorp (NASDAQ:EBTC) last posted its earnings results on Thursday, July 19th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter. Enterprise Bancorp had a net margin of 17.47% and a return on equity of 11.76%. The business had revenue of $30.95 million for the quarter.

Large investors have recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Enterprise Bancorp by 383.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,900 shares of the savings and loans company’s stock worth $117,000 after purchasing an additional 2,300 shares during the period. First Trust Advisors LP lifted its stake in shares of Enterprise Bancorp by 18.7% in the 2nd quarter. First Trust Advisors LP now owns 9,798 shares of the savings and loans company’s stock worth $396,000 after purchasing an additional 1,546 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Enterprise Bancorp by 19.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 17,331 shares of the savings and loans company’s stock worth $612,000 after purchasing an additional 2,800 shares during the period. Martingale Asset Management L P lifted its stake in shares of Enterprise Bancorp by 102.5% in the 2nd quarter. Martingale Asset Management L P now owns 16,004 shares of the savings and loans company’s stock worth $648,000 after purchasing an additional 8,100 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Enterprise Bancorp by 35.6% in the 2nd quarter. Renaissance Technologies LLC now owns 37,151 shares of the savings and loans company’s stock worth $1,502,000 after purchasing an additional 9,751 shares during the period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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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