Enterprise Bancorp, Inc (EBTC) Shares Sold by Banc Funds Co. LLC
Banc Funds Co. LLC trimmed its position in Enterprise Bancorp, Inc (NASDAQ:EBTC) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 290,137 shares of the savings and loans company’s stock after selling 18,000 shares during the quarter. Banc Funds Co. LLC’s holdings in Enterprise Bancorp were worth $9,879,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Enterprise Bancorp by 2.4% in the 2nd quarter. Wells Fargo & Company MN now owns 6,381 shares of the savings and loans company’s stock valued at $226,000 after purchasing an additional 150 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Enterprise Bancorp by 4.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 42,910 shares of the savings and loans company’s stock valued at $1,558,000 after purchasing an additional 1,830 shares during the period. Vanguard Group Inc. raised its holdings in shares of Enterprise Bancorp by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 303,306 shares of the savings and loans company’s stock valued at $10,779,000 after purchasing an additional 2,073 shares during the period. Teachers Advisors LLC raised its holdings in shares of Enterprise Bancorp by 20.4% in the 2nd quarter. Teachers Advisors LLC now owns 16,835 shares of the savings and loans company’s stock valued at $598,000 after purchasing an additional 2,849 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Enterprise Bancorp by 18.8% in the 3rd quarter. First Trust Advisors LP now owns 21,540 shares of the savings and loans company’s stock valued at $782,000 after purchasing an additional 3,411 shares during the period. 20.32% of the stock is currently owned by institutional investors.
Separately, BidaskClub cut shares of Enterprise Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th.
Enterprise Bancorp (NASDAQ:EBTC) last issued its earnings results on Thursday, January 25th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter. The company had revenue of $30.16 million for the quarter. Enterprise Bancorp had a net margin of 16.07% and a return on equity of 10.68%.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 8th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from Enterprise Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 7th. Enterprise Bancorp’s dividend payout ratio is presently 34.94%.
In other Enterprise Bancorp news, Chairman George L. Duncan sold 1,938 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $34.42, for a total value of $66,705.96. Following the transaction, the chairman now directly owns 394,069 shares of the company’s stock, valued at approximately $13,563,854.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman George L. Duncan sold 4,580 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $37.58, for a total transaction of $172,116.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,647 shares of company stock worth $690,648. 19.68% of the stock is owned by insiders.
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Enterprise Bancorp Profile
Enterprise Bancorp, Inc operates as the holding company of Enterprise Bank and Trust Company (the Bank). The Company is engaged in the business of gathering deposits from the general public and investing primarily in loans and investment securities and utilizing the resulting cash flows to conduct operations, expand the branch network, and pay dividends to stockholders.
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