ECB Bancorp (NASDAQ:ECBK) Posts Earnings Results

ECB Bancorp (NASDAQ:ECBK) posted its quarterly earnings data on Friday. The company reported $0.38 earnings per share (EPS) for the quarter, Zacks reports. ECB Bancorp had a net margin of 9.78% and a return on equity of 4.59%.

ECB Bancorp Price Performance

NASDAQ ECBK traded up $0.06 on Friday, reaching $18.68. The company’s stock had a trading volume of 1,426 shares, compared to its average volume of 10,700. ECB Bancorp has a twelve month low of $14.82 and a twelve month high of $20.05. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.30 and a current ratio of 1.30. The firm’s 50 day moving average is $17.43 and its two-hundred day moving average is $17.30. The stock has a market cap of $164.01 million, a PE ratio of 20.09 and a beta of 0.49.

Insider Activity

In other ECB Bancorp news, Director Maura Ellen Sullivan bought 2,200 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were acquired at an average cost of $18.50 per share, for a total transaction of $40,700.00. Following the acquisition, the director directly owned 5,700 shares of the company’s stock, valued at $105,450. This trade represents a 62.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in shares of ECB Bancorp in the first quarter valued at $200,000. Geode Capital Management LLC boosted its stake in shares of ECB Bancorp by 114.6% during the 2nd quarter. Geode Capital Management LLC now owns 172,835 shares of the company’s stock worth $2,669,000 after acquiring an additional 92,310 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of ECB Bancorp in the 2nd quarter worth $56,000. New York State Common Retirement Fund acquired a new stake in shares of ECB Bancorp during the second quarter worth $103,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of ECB Bancorp during the second quarter valued at $65,000. Institutional investors and hedge funds own 30.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised ECB Bancorp from a “hold (c)” rating to a “buy (b)” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.