2024-06-06 10:30:00 ET
Summary
- Enterprise Bancorp saw the total amount of loans past due increase in Q1 2024.
- The bank's earnings profile remains robust, but let's keep an eye on loan loss provisions.
- The stock is trading at a discount to the tangible book value.
Introduction
Back in 2021, I was pleasantly surprised to see Enterprise Bancorp ( EBTC ) performing quite well after the initial fallout of the COVID pandemic in 2020 as its CRE-heavy loan portfolio performed just fine. Fast-forward to now, three years later, and EBTC, focusing on Massachusetts and New Hampshire, is facing more difficulties in its loan portfolio....
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For further details see:
Enterprise Bancorp: A 4% Dividend Yield, But Keep An Eye On The Loan Book