Empowered Funds LLC Purchases 2,910 Shares of Enterprise Bancorp, Inc. (NASDAQ:EBTC)

Empowered Funds LLC grew its position in Enterprise Bancorp, Inc. (NASDAQ:EBTC) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,917 shares of the savings and loans company’s stock after purchasing an additional 2,910 shares during the period. Empowered Funds LLC’s holdings in Enterprise Bancorp were worth $2,409,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EBTC. SG Americas Securities LLC bought a new stake in Enterprise Bancorp during the third quarter worth about $111,000. Harbor Group Inc. bought a new stake in Enterprise Bancorp during the fourth quarter worth about $203,000. Private Advisor Group LLC bought a new stake in Enterprise Bancorp during the third quarter worth about $212,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Enterprise Bancorp during the third quarter worth about $223,000. Finally, JPMorgan Chase & Co. raised its holdings in Enterprise Bancorp by 170.4% during the third quarter. JPMorgan Chase & Co. now owns 20,762 shares of the savings and loans company’s stock worth $664,000 after acquiring an additional 13,084 shares in the last quarter. 38.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Enterprise Bancorp Stock Performance

EBTC opened at $43.05 on Friday. The business’s 50-day simple moving average is $41.21 and its 200 day simple moving average is $35.27. The firm has a market capitalization of $535.11 million, a PE ratio of 13.80 and a beta of 0.54. 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, Inc. has a 52-week low of $22.60 and a 52-week high of $44.41.

Enterprise Bancorp (NASDAQ:EBTC) last announced its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.86 earnings per share for the quarter. Enterprise Bancorp had a return on equity of 11.15% and a net margin of 15.30%.

Enterprise Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, February 10th. This is an increase from Enterprise Bancorp’s previous quarterly dividend of $0.24. Enterprise Bancorp’s payout ratio is 30.77%.

Enterprise Bancorp Company Profile

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.