ECB Bancorp (NASDAQ:ECBK) Trading Down 1.5% – What’s Next?

ECB Bancorp, Inc. (NASDAQ:ECBK)’s share price was down 1.5% during mid-day trading on Monday . The company traded as low as $20.00 and last traded at $20.01. Approximately 17,960 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 10,932 shares. The stock had previously closed at $20.31.

Wall Street Analyst Weigh In

ECBK has been the subject of several research analyst reports. Weiss Ratings raised shares of ECB Bancorp from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. Wall Street Zen raised ECB Bancorp to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

ECB Bancorp Trading Down 1.4%

The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.27 and a current ratio of 1.27. The company’s 50 day simple moving average is $18.53 and its two-hundred day simple moving average is $17.73. The stock has a market cap of $173.68 million, a price-to-earnings ratio of 17.25 and a beta of 0.49.

ECB Bancorp (NASDAQ:ECBK) last released its quarterly earnings results on Friday, May 8th. The company reported $0.38 earnings per share for the quarter. The business had revenue of $10.16 million for the quarter. ECB Bancorp had a net margin of 11.49% and a return on equity of 5.60%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Covalent Partners LLC bought a new stake in ECB Bancorp in the fourth quarter valued at approximately $574,000. Barclays PLC raised its holdings in ECB Bancorp by 9.9% in the 4th quarter. Barclays PLC now owns 11,921 shares of the company’s stock valued at $207,000 after acquiring an additional 1,076 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of ECB Bancorp by 40.5% during the fourth quarter. Wells Fargo & Company MN now owns 8,949 shares of the company’s stock worth $156,000 after buying an additional 2,580 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of ECB Bancorp by 99.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,723 shares of the company’s stock valued at $360,000 after buying an additional 10,327 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in ECB Bancorp by 22.9% during the fourth quarter. HighTower Advisors LLC now owns 43,000 shares of the company’s stock worth $748,000 after purchasing an additional 8,000 shares during the period. 30.27% of the stock is currently owned by institutional investors.

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.