ECB Bancorp (NASDAQ:ECBK) Stock Price Up 1.4% – Here’s Why

by · The Markets Daily

ECB Bancorp, Inc. (NASDAQ:ECBK – Get Free Report)’s stock price rose 1.4% during mid-day trading on Thursday . The stock traded as high as $20.88 and last traded at $20.73. 7,747 shares changed hands during trading, a decline of 17% from the average session volume of 9,294 shares. The stock had previously closed at $20.44.

Wall Street Analyst Weigh In

ECBK has been the subject of a number of recent research reports. Weiss Ratings upgraded ECB Bancorp from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, August 17th. Wall Street Zen upgraded ECB Bancorp to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, ECB Bancorp has a consensus rating of “Strong Buy”.

Check Out Our Latest Report on ECBK

ECB Bancorp Stock Up 0.0%

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.58. The firm’s fifty day moving average price is $20.31 and its 200-day moving average price is $18.73. The company has a market cap of $181.27 million, a price-to-earnings ratio of 15.14 and a beta of 0.45.

ECB Bancorp (NASDAQ:ECBK – Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.39 earnings per share for the quarter. ECB Bancorp had a return on equity of 6.55% and a net margin of 13.19%.The firm had revenue of $10.34 million for the quarter.

Institutional Trading of ECB Bancorp

Several hedge funds have recently bought and sold shares of ECBK. California State Teachers Retirement System boosted its holdings in shares of ECB Bancorp by 409.4% in the second quarter. California State Teachers Retirement System now owns 2,068 shares of the company’s stock valued at $42,000 after buying an additional 1,662 shares during the period. Bank of America Corp DE increased its holdings in ECB Bancorp by 5,104.5% during the 2nd quarter. Bank of America Corp DE now owns 3,435 shares of the company’s stock worth $53,000 after purchasing an additional 3,369 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of ECB Bancorp in the 2nd quarter valued at about $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of ECB Bancorp in the second quarter valued at about $65,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of ECB Bancorp during the fourth quarter worth about $87,000. 30.27% of the stock is currently owned by institutional investors and hedge funds.

About ECB Bancorp

(Get Free Report)

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.

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