Enterprise Bancorp inc (EBTC) |
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Price: $25.2500
$0.55
2.227%
|
Day's High:
| $25.59
| Week Perf:
| -1.48 %
|
Day's Low: |
$ 24.42 |
30 Day Perf: |
-7.85 % |
Volume (M): |
60 |
52 Wk High: |
$ 34.10 |
Volume (M$): |
$ 1,505 |
52 Wk Avg: |
$28.76 |
Open: |
$24.42 |
52 Wk Low: |
$24.38 |
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Market Capitalization (Millions $) |
309 |
Shares
Outstanding (Millions) |
12 |
Employees |
426 |
Revenues (TTM) (Millions $) |
161 |
Net Income (TTM) (Millions $) |
38 |
Cash Flow (TTM) (Millions $) |
-211 |
Capital Exp. (TTM) (Millions $) |
7 |
Enterprise Bancorp Inc
Enterprise Bancorp, Inc. is a Massachusetts corporation organized in 1996,
which operates as the parent holding company of Enterprise Bank and Trust Company,
commonly referred to as Enterprise Bank (the “Bank”). Substantially
all of the Company’s operations are conducted through the Bank. The Bank,
a Massachusetts trust company and state chartered commercial bank that commenced
banking operations in 1989, has five wholly owned subsidiaries that are included
in the Company’s consolidated financial statements:
Enterprise Insurance Services, LLC, organized in 2000 in the State of Delaware
for the purpose of engaging in insurance sales activities;
Three Massachusetts security corporations, Enterprise Security Corporation (2005),
Enterprise Security Corporation II (2007) and Enterprise Security Corporation
III (2007), which hold various types of qualifying securities. The security
corporations are limited to conducting securities investment activities that
the Bank itself would be allowed to conduct under applicable laws.
The Company specializes in lending to business entities, non-profit organizations,
professionals and individuals. The Company’s primary lending focus is
on the development of high quality commercial relationships achieved through
active business development efforts, strong community involvement, focused marketing
strategies, and long-term relationships with established commercial developers,
growing businesses and non-profits. Loans made to businesses include commercial
mortgage loans, construction and land development loans, secured and unsecured
commercial loans and lines of credit, and standby letters of credit. The Company
also originates equipment lease financing for businesses. Loans made to individuals
include conventional residential mortgage loans, home equity loans and lines,
residential construction loans on primary and secondary residences, and secured
and unsecured personal loans and lines of credit. The Company seeks to manage
its loan portfolio to avoid concentration by industry or loan size to lessen
its credit risk exposure.
Interest rates charged on loans may be fixed or variable; variable rate loans
may have fixed initial periods before periodic rate adjustments begin. Individual
rates offered are dependent on the associated degree of credit risk, term, underwriting
and servicing costs, loan amount, and the extent of other banking relationships
maintained with the borrower, and may be subject to interest rate floors. Rates
are also subject to competitive pressures, the current interest rate environment,
availability of funds, and government regulations. In 2015, the Company introduced
a “Back-to-Back Swap” program that is available to qualified commercial
banking customers. The customer interest-rate swap contract allows commercial
banking customers to convert a floating-rate loan payment to fixed-rate loan
payment while the Company simultaneously enters into an equal and opposite interest
rate swap with an independent counterparty. The transaction structure effectively
minimizes the Companys net interest rate risk exposure resulting from such
transactions.
Enterprise employs a seasoned commercial lending staff, with commercial lenders
supporting each branch location. An internal loan review function assesses the
compliance of commercial loan originations with the Company’s internal
policies and underwriting guidelines and monitors the ongoing quality of the
loan portfolio. The Company also contracts with an external loan review company
to review loans in the commercial loan portfolio on a pre-determined schedule,
based on the type, size, rating, and overall risk of the loan.
The Companys internal residential origination and underwriting staff originate
residential loans and are responsible for compliance with residential lending
regulations, consumer protection and internal policy guidelines. The Company
contracts with an external loan review company to complete a regular quality
control review in accordance with secondary market underwriting requirements
for residential mortgage loans sold. The sample reviewed is based on loan volume
originated. Additionally, the Companys internal compliance department monitors
the residential loan origination activity for regulatory compliance.
A management loan review committee, consisting of senior lending officers,
credit, loan workout and accounting personnel, is responsible for setting loan
policy and procedures, as well as reviewing loans on the internal “watched
asset list” and classified loan report. An internal credit review committee,
consisting of senior lending officers and loan review personnel, meets to review
loan requests related to borrowing relationships of certain dollar levels, as
well as other borrower relationships recommended for discussion by committee
members.
Deposits have traditionally been the principal source of the Company’s
funds. Enterprise offers commercial checking, business and municipal savings
accounts, term certificates of deposit (“CDs”), money market and
business sweep accounts, Interest on Lawyers Trust Accounts ("IOLTAs"),
and escrow management accounts, as well as checking and Simplified Employee
Pension (“SEP”) accounts to employees of our business customers.
A broad selection of competitive retail deposit products are also offered, including
personal checking accounts earning interest and/or reward points, savings accounts,
money market accounts, individual retirement accounts (“IRA”) and
CDs. Terms on CDs are offered ranging from one month to seventy-two months.
As a member of the Federal Deposit Insurance Corporation (the “FDIC”),
the Banks depositors are provided deposit protection up to the maximum FDIC
insurance coverage limits.
In addition to the deposit products noted above, the Company also provides customers
the ability to allocate money market and checking deposits and CDs to networks
of reciprocating FDIC insured banks. Deposits are placed into nationwide networks
in increments that are covered by FDIC insurance. This allows the Company to
offer enhanced FDIC insurance coverage on larger deposit balances by placing
the “excess” funds in FDIC insured accounts or term certificates
issued by other banks participating in the networks. In exchange, the other
institutions place dollar-for-dollar matching reciprocal and insurable deposits
with the Company via the networks. Essentially, the equivalent of the original
deposit comes back to the Company and is available to fund local loan growth.
The original funds placed into the networks are not carried as deposits on the
Companys balance sheet, however the networks reciprocal dollar deposits are
carried as non-brokered deposits within the appropriate category under total
deposits on the balance sheet.
Company Address: 222 Merrimack Street, Lowell, 1852 MA
Company Phone Number: 459-9000 Stock Exchange / Ticker: NASDAQ EBTC
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Customers Net Income fell by |
EBTC's Customers Net Profit Margin fell to |
-4.36 % |
11.29 %
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Stock Performances by Major Competitors |
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Enterprise Bancorp Inc
Enterprise Bancorp Inc recently announced its financial results for the fiscal period ending December 31, 2023, which revealed a decline in both top and bottom-line figures. The net profit per share dropped by -36.36% and revenue decreased by -11.102% year on year. Revenue amounted to $39.57 million compared to $44.51 million in the same period a year ago, with earnings per share at $0.64, down from $1.00 in the previous year. Furthermore, profits fell by -19.16% from $0.79 per share, and revenue decreased by -4.035% from $41.24 million in the prior period. Net earnings for the financial period ending December 31, 2023, stood at $7.907 million, marking a -35.75% decline from $12.306 million in the corresponding period in 2022.
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Enterprise Bancorp Inc
Enterprise Bancorp Inc (EBTC) has reported disappointing financial results for the July to September 30, 2023, period, with income falling by -19.39% to $0.79 per share and revenue decreasing by -4.776% to $41.24 million year on year. This is in contrast to the overall performance of the Regional Banks sector, which recorded a 0.33% improvement in revenue compared to the same reporting period a year ago in the third quarter of 2023. However, when compared to the previous reporting period, Enterprise Bancorp Inc shows some positive signs of growth. Revenue advanced by 6.707% from $38.64 million, and income per share remained unchanged at $0.79 per share. The bottom-line also saw a decline of -18.92% to $9.699 million from $11.962 million in the corresponding period a year before.
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Dividend
Published Tue, Oct 17 2023 8:07 PM UTC
Enterprise Bancorp, Inc. (EBTC), a leading Massachusetts-based banking company, recently announced its quarterly dividend. The announcement came on October 17, 2023, showcasing the company's commitment to prioritizing shareholder returns and reflecting its confidence in its financial stability and growth prospects. The company, listed on the NASDAQ stock exchange under t...
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Enterprise Bancorp Inc
Enterprise Bancorp Inc, a financial institution, reported a double-digit increase in bottom-line earnings during the financial second quarter of 2023. However, a closer examination reveals that their revenue growth remained lackluster, and their profit margins, although improved, are not strong enough to support a bullish outlook. This article will delve into the specifics of Enterprise Bancorp Inc's recent financial performance and highlight its potential weaknesses. Revenue Stagnation: While Enterprise Bancorp Inc showcased a slight 2.93% increase in revenue to $38.64 million compared to the previous year, it is essential to consider the decline of 7.973% from the first quarter of 2023. This deterioration implies that the company's revenue growth is not consistent or sustainable. Furthermore, the revenue decline from the preceding quarter presents a worrying trend.
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Enterprise Bancorp Inc
Enterprise Bancorp Inc is a full-service commercial bank based in Massachusetts, United States. The bank was founded in 1989 by George L. Duncan, who still serves as the Chairman and Chief Executive Officer. The bank operates through its banking subsidiaries, Enterprise Bank and Trust Company, and Eagle Insurance Agency. The bank offers a range of banking and financial services, including business and personal banking, commercial and consumer lending, residential mortgage services, trust and investment services, and insurance services. The bank recently released its financial results for the fiscal first quarter of 2023, which showed an increase in revenue and profits in comparison to the prior year. The revenue for the fiscal first quarter of 2023 increased by 7.402% to $41.99 million relative to $39.10 million in the prior year reporting season. The profits grew modestly by 3.53% to $0.88 per share, relative to $0.85 in the prior year reporting season.
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Per Share |
Current |
Earnings (TTM) |
3.1 $ |
Revenues (TTM) |
13.19 $
|
Cash Flow (TTM) |
- |
Cash |
-
|
Book Value |
26.89 $
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Dividend (TTM) |
0.99 $ |
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Per Share |
|
Earnings (TTM) |
3.1 $
|
Revenues (TTM) |
13.19 $ |
Cash Flow (TTM) |
- |
Cash |
-
|
Book Value |
26.89 $ |
Dividend (TTM) |
0.99 $ |
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