ECB Bancorp (NASDAQ:ECBK) Announces Quarterly Earnings Results

ECB Bancorp (NASDAQ:ECBK) issued its quarterly earnings data on Thursday. The company reported $0.31 EPS for the quarter, FiscalAI reports. The business had revenue of $9.51 million for the quarter. ECB Bancorp had a net margin of 9.78% and a return on equity of 4.61%.

ECB Bancorp Price Performance

ECB Bancorp stock traded up $0.07 during trading on Friday, reaching $18.21. The company had a trading volume of 15,591 shares, compared to its average volume of 9,002. The firm has a market capitalization of $160.25 million, a PE ratio of 19.58 and a beta of 0.45. The firm’s 50-day simple moving average is $17.31 and its 200 day simple moving average is $16.68. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.28 and a current ratio of 1.28. ECB Bancorp has a 1-year low of $13.92 and a 1-year high of $18.49.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of ECB Bancorp from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Insider Transactions at ECB Bancorp

In other ECB Bancorp news, Director Maura Ellen Sullivan acquired 2,937 shares of the stock in a transaction dated Monday, December 8th. The stock was acquired at an average cost of $16.83 per share, with a total value of $49,429.71. Following the transaction, the director owned 2,937 shares in the company, valued at $49,429.71. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On ECB Bancorp

Several institutional investors have recently added to or reduced their stakes in ECBK. Bank of America Corp DE increased its stake in ECB Bancorp by 5,104.5% in the second quarter. Bank of America Corp DE now owns 3,435 shares of the company’s stock valued at $53,000 after purchasing an additional 3,369 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of ECB Bancorp in the 2nd quarter valued at $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in ECB Bancorp during the 2nd quarter worth $65,000. Farther Finance Advisors LLC purchased a new stake in ECB Bancorp in the fourth quarter valued at $87,000. Finally, New York State Common Retirement Fund purchased a new position in shares of ECB Bancorp during the second quarter worth about $103,000. Hedge funds and other institutional investors own 30.27% of the company’s stock.

ECB Bancorp Company Profile

ECB Bancorp, Inc operating as a holding company for Everett Co-operative Bank that provides various banking products and services. The company accepts various deposit products, including certificate of deposit accounts, IRAs, money market accounts, savings accounts, demand deposit accounts, and interest-bearing and noninterest-bearing checking accounts. It also offers one- to four-family residential real estate, commercial real estate and multifamily real estate, construction and land, commercial, and consumer loans, as well as home equity loans and lines of credit.