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Enterprise Bancorp (EBTC)

Enterprise Bancorp, Inc. is a Massachusetts corporation that conducts substantially all of its operations through Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank. Enterprise Bank is principally engaged in the business of attracting deposits from the general public and investing in commercial loans and investment securities. Through Enterprise Bank and its subsidiaries, the Company offers a range of commercial, residential and consumer loan products, deposit products and cash management services, electronic and digital banking options, and commercial insurance services, as well as wealth management, wealth services and trust services. The Company's headquarters and Enterprise Bank's main office are located at 222 Merrimack Street in Lowell, Massachusetts. The Company's primary market area is the Greater Merrimack Valley, Nashoba Valley, and North Central regions of Massachusetts and Southern New Hampshire (Southern Hillsborough and Rockingham counties). Enterprise Bank has 25 full-service branches located in the Massachusetts communities of Lowell (2), Acton, Andover, Billerica (2), Chelmsford (2), Dracut, Fitchburg, Lawrence, Leominster, Lexington, Methuen, Tewksbury (2), Tyngsborough and Westford and in the New Hampshire communities of Derry, Hudson, Nashua (2), Pelham, Salem and Windham. The Company is also in the process of establishing a branch office in North Andover, Massachusetts and anticipates that this location will open as planned in the second half of 2020.

Company profile

Ticker
EBTC
Exchange
CEO
John P. Clancy
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
Enterprise Bank and Trust Company • Enterprise Wealth Services LLC • Enterprise Insurance Services LLC • 239 Littleton Road LLC • Enterprise Security Corporation ...

EBTC stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

5 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 306.46M 306.46M 306.46M 306.46M 306.46M 306.46M
Cash burn (monthly) 41.08M 36.07M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 59.66M 52.38M n/a n/a n/a n/a
Cash remaining 246.8M 254.08M n/a n/a n/a n/a
Runway (months of cash) 6.0 7.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
9 Aug 22 Gallagher Michael John Option Common Stock Option exercise Dispose M No No 21.86 202 4.42K 0
9 Aug 22 Gallagher Michael John Stock Option Common Stock Option exercise Dispose M No No 20.29 13 263.77 0
26 Jul 22 Gallagher Michael John Option Common Stock Option exercise Dispose M No No 21.86 320 7K 202
26 Jul 22 Gallagher Michael John Stock Option Common Stock Option exercise Dispose M No No 20.29 400 8.12K 13
21 Jul 22 Clancy John P JR Common Stock Payment of exercise Dispose F No No 32.63 301 9.82K 173,609
21 Jul 22 Collins Brian Michael Common Stock Payment of exercise Dispose F No No 32.63 53 1.73K 10,024.844
21 Jul 22 Covey Susan Common Stock Payment of exercise Dispose F No No 32.63 51 1.66K 8,789.851
30.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 65 63 +3.2%
Opened positions 5 8 -37.5%
Closed positions 3 3
Increased positions 19 24 -20.8%
Reduced positions 23 15 +53.3%
13F shares Current Prev Q Change
Total value 146.03M 337.89M -56.8%
Total shares 3.64M 3.09M +17.9%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 593.89K $23.83M -2.1%
Captrust Financial Advisors 486.44K $19.52M NEW
Vanguard 401.87K $16.12M -0.1%
Banc Funds 318.82K $12.79M 0.0%
Dimensional Fund Advisors 262.81K $10.54M +1.9%
STT State Street 183.2K $7.35M +14.1%
Geode Capital Management 164.63K $6.6M +3.9%
Commonwealth Equity Services 143.25K $5.75M +95.8%
Siena Capital Partners GP 108.25K $4.34M 0.0%
M3F 106.14K $4.26M -0.2%
Largest transactions Shares Bought/sold Change
Captrust Financial Advisors 486.44K +486.44K NEW
Commonwealth Equity Services 143.25K +70.1K +95.8%
STT State Street 183.2K +22.63K +14.1%
Monarch Partners Asset Management 84.45K +21.95K +35.1%
Beacon Pointe Advisors 0 -14.8K EXIT
BLK Blackrock 593.89K -12.54K -2.1%
BCS Barclays 5.04K -9.75K -65.9%
Citadel Advisors 9.53K +9.53K NEW
JPM JPMorgan Chase & Co. 9.38K -8.7K -48.1%
IVZ Invesco 8.35K +8.35K NEW

Financial report summary

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Competition
FintechFintech
Risks
  • Risk Management Controls and Procedures Could Fail or Be Circumvented
  • Pandemic's Impact on Lending, Credit, Liquidity, and Interest Rate Risks
  • Pandemic's Impact on Technology & Information Systems, and Operations Risks
  • Commercial Lending Generally Involves a Higher Degree of Risk than Retail Residential Mortgage Lending
  • The Company May Need to Increase its Allowance for Credit Losses
  • Increases in the Company's Non-performing Assets Could Adversely Affect the Company's Results of Operations and Financial Condition in the Future
  • The Company's Use of Appraisals in Deciding Whether to Make a Loan Does Not Ensure the Value of the Collateral
  • The Company is Subject to Environmental Risks Associated with Real Estate Held as Collateral or Occupied
  • Concentrations in Commercial Real Estate Loans are Subject to Heightened Risk Management and Regulatory Review
  • The Company's Investment Portfolio Could Incur Losses or Fair Value Could Deteriorate
  • The Company is Subject to Interest Rate Risks
  • The Company is subject to Inflation Risk
  • There may be Additional Cost Associated with the London Interbank Offer Rate ("LIBOR") Transition
  • Deposit Outflows May Increase Reliance on Borrowings and Brokered Deposits as Sources of Funds
  • Sources of External Funding Could Become Restricted and Impact the Company's Liquidity
  • Failure to Keep Pace with Technological Change Could Affect the Company's Profitability
  • Information Systems Could Experience an Interruption, Failure, Breach in Security, or Cyber-Attack
  • The Company Operates in a Competitive Industry and Market Area
  • The Company May Experience a Prolonged Interruption in its Ability to Conduct Business
  • The Company Relies on External Service Providers
  • The Company Relies on Financial Counterparty Relationships
  • Wealth Management Services Expose the Company to Financial, Operational and Legal Risk
  • The Company's Insurance Coverage May Not be Adequate to Prevent Additional Liabilities or Expenses
  • Slower than Expected Growth in New Branches Could Adversely Affect the Company's Profitability
  • The Company May Not be Able to Attract, Retain or Develop Key Personnel
  • The Company is Subject to Extensive Government Regulation and Supervision
  • The Company's Financial Condition and Results of Operation Rely in Part on Management Estimates and Assumptions
  • The Net Deferred Tax Assets (“DTAs”) May be Determined to be Unrealizable in Future Periods
  • Damage to the Company's Reputation Could Affect the Company's Profitability and Shareholders' Value
  • Environmental, Social and Governance Oversight May Influence Stock Price and Increase Compliance Costs
  • The Company is Exposed to Legal Claims and Litigation
  • The Trading Volume in the Company's Common Stock is Less Than That of Larger Companies
  • The Company's Capital Levels Could Fall Below Regulatory Minimums
  • The Company's Articles of Organization, By-Laws and Shareholders Rights Plan as Well as Certain Banking and Corporate Laws Could Have an Anti-Takeover Effect
  • Directors and Executive Officers Own a Significant Portion of Common Stock
  • The Company Relies on Dividends from the Bank for Substantially All of its Revenue
Management Discussion
  • Unless otherwise indicated, the reported results are for the year ended December 31, 2021, with the "same period," the "comparable year" and "prior year" being the year ended December 31, 2020. Average yields are presented on a tax-equivalent basis.
  • Net income for the year ended December 31, 2021, amounted to $42.2 million, an increase of $10.7 million, or 34%, compared to the year ended December 31, 2020. Diluted earnings per share were $3.50 for the year ended December 31, 2021, as compared to $2.64 for the year ended December 31, 2020.
  • •The increase in net income was attributable largely to an increase in net interest income of $11.4 million, and a decrease in the provision for credit losses of $10.7 million, partially offset by an increase in non-interest expense of $8.9 million.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
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New words: ago, called, half, history, inflation, NASDAQ, payoff, persistence, persistent, restored, worsening
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