ASB Bancorp, Inc. (NASDAQ:ASBB) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a research report issued on Monday.

Shares of ASB Bancorp (NASDAQ ASBB) opened at 44.40 on Monday. The firm’s 50-day moving average price is $44.12 and its 200 day moving average price is $39.23. ASB Bancorp has a 1-year low of $24.80 and a 1-year high of $46.00. The stock has a market capitalization of $156.33 million, a P/E ratio of 116.54 and a beta of 0.34.

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A number of hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund purchased a new stake in shares of ASB Bancorp during the second quarter valued at $136,000. The Manufacturers Life Insurance Company purchased a new stake in shares of ASB Bancorp during the second quarter valued at $146,000. California State Teachers Retirement System purchased a new stake in shares of ASB Bancorp during the second quarter valued at $220,000. Teachers Advisors LLC purchased a new stake in shares of ASB Bancorp during the second quarter valued at $223,000. Finally, Spark Investment Management LLC purchased a new stake in shares of ASB Bancorp during the second quarter valued at $259,000. 36.53% of the stock is currently owned by hedge funds and other institutional investors.

About ASB Bancorp

ASB Bancorp, Inc is the holding company for Asheville Savings Bank (the Bank). The Company’s principal business activity is the ownership of the outstanding shares of common stock of the Bank. The Bank is a chartered savings bank. It operates as a community-oriented financial institution offering traditional financial services to consumers and businesses in its primary market area.

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