Enterprise Bancorp, Inc. (NASDAQ:EBTC) Short Interest Up 8.6% in December

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Enterprise Bancorp in a report on Friday, December 27th. They issued a “hold” rating on the stock.

Enterprise Bancorp Price Performance

Shares of EBTC opened at $39.54 on Thursday. The company has a market capitalization of $491.44 million, a P/E ratio of 13.63 and a beta of 0.56. The business’s 50-day moving average is $37.50 and its two-hundred day moving average is $31.77. 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 fifty-two week low of $22.60 and a fifty-two week high of $44.08.

Enterprise Bancorp Dividend Announcement

The business 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 2.43%. The ex-dividend date was Friday, November 8th. Enterprise Bancorp’s payout ratio is presently 33.10%.

Institutional Investors Weigh In On Enterprise Bancorp

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Enterprise Bancorp during the 3rd quarter valued at approximately $111,000. Private Advisor Group LLC purchased a new position in Enterprise Bancorp in the third quarter valued at $212,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Enterprise Bancorp in the third quarter valued at $223,000. Cabot Wealth Management Inc. acquired a new position in shares of Enterprise Bancorp in the third quarter worth about $234,000. Finally, Rhumbline Advisers boosted its stake in shares of Enterprise Bancorp by 2.8% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 38.93% of the company’s stock.

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.