Enterprise Bancorp, Inc. (NASDAQ:EBTC) Sees Significant Increase in Short Interest

Enterprise Bancorp, Inc. (NASDAQ:EBTC) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 74,300 shares, a growth of 30.4% from the November 15th total of 57,000 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 26,300 shares, the short-interest ratio is currently 2.8 days.

Enterprise Bancorp Price Performance

EBTC traded down $0.46 during trading on Friday, reaching $42.75. 94,686 shares of the stock were exchanged, compared to its average volume of 24,398. The business’s 50 day moving average price is $35.40 and its two-hundred day moving average price is $30.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $531.38 million, a price-to-earnings ratio of 14.74 and a beta of 0.56. Enterprise Bancorp has a 1 year low of $22.60 and a 1 year high of $44.08.

Enterprise Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.24 per share. The ex-dividend date was Friday, November 8th. This represents a $0.96 dividend on an annualized basis and a yield of 2.25%. Enterprise Bancorp’s payout ratio is 33.10%.

Institutional Trading of Enterprise Bancorp

A number of institutional investors have recently bought and sold shares of EBTC. Private Advisor Group LLC purchased a new stake in shares of Enterprise Bancorp in the third quarter valued at $212,000. American Century Companies Inc. lifted its position in shares of Enterprise Bancorp by 35.4% in the second quarter. American Century Companies Inc. now owns 55,751 shares of the savings and loans company’s stock valued at $1,387,000 after acquiring an additional 14,563 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Enterprise Bancorp in the second quarter valued at $807,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Enterprise Bancorp in the third quarter valued at $223,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Enterprise Bancorp by 14.1% in the second quarter. Bank of New York Mellon Corp now owns 39,010 shares of the savings and loans company’s stock valued at $971,000 after acquiring an additional 4,824 shares in the last quarter. 38.93% of the stock is currently owned by hedge funds and other institutional investors.

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.