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StockNews.com Downgrades Enterprise Bancorp (NASDAQ:EBTC) to Hold



Enterprise Bancorp (NASDAQ:EBTCGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Shares of Enterprise Bancorp stock opened at $32.77 on Thursday. The firm has a market capitalization of $396.65 million, a PE ratio of 9.42 and a beta of 0.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83. The company’s fifty day moving average price is $36.29 and its two-hundred day moving average price is $39.47. Enterprise Bancorp has a 52-week low of $31.50 and a 52-week high of $46.48.

In other Enterprise Bancorp news, Director Michael T. Putziger purchased 976 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The stock was acquired at an average cost of $40.41 per share, with a total value of $39,440.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 16.81% of the company’s stock.

A number of large investors have recently modified their holdings of EBTC. Captrust Financial Advisors bought a new position in shares of Enterprise Bancorp in the 1st quarter valued at about $19,516,000. BlackRock Inc. boosted its stake in shares of Enterprise Bancorp by 16.2% in the 4th quarter. BlackRock Inc. now owns 606,424 shares of the savings and loans company’s stock valued at $27,241,000 after purchasing an additional 84,591 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Enterprise Bancorp by 95.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 143,246 shares of the savings and loans company’s stock valued at $5,747,000 after purchasing an additional 70,099 shares during the last quarter. Monarch Partners Asset Management LLC boosted its stake in shares of Enterprise Bancorp by 246.0% in the 4th quarter. Monarch Partners Asset Management LLC now owns 62,508 shares of the savings and loans company’s stock valued at $2,808,000 after purchasing an additional 44,442 shares during the last quarter. Finally, M3F Inc. boosted its stake in shares of Enterprise Bancorp by 43.3% in the 3rd quarter. M3F Inc. now owns 133,730 shares of the savings and loans company’s stock valued at $4,808,000 after purchasing an additional 40,393 shares during the last quarter. 25.52% of the stock is currently owned by hedge funds and other institutional investors.

About Enterprise Bancorp (Get Rating)

Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company that provides 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.

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