ECB Bancorp (NASDAQ:ECBK) Posts Earnings Results

ECB Bancorp (NASDAQ:ECBK) issued its quarterly earnings results on Thursday. The company reported $0.31 earnings per share for the quarter, FiscalAI reports. The company had revenue of $9.51 million for the quarter. ECB Bancorp had a net margin of 8.69% and a return on equity of 3.93%.

ECB Bancorp Trading Up 0.2%

Shares of ECB Bancorp stock opened at $18.14 on Friday. The stock has a market capitalization of $159.63 million, a P/E ratio of 22.96 and a beta of 0.45. ECB Bancorp has a 52-week low of $13.92 and a 52-week high of $18.49. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50-day simple moving average is $17.29 and its 200 day simple moving average is $16.66.

Insiders Place Their Bets

In other ECB Bancorp news, Director Maura Ellen Sullivan bought 2,937 shares of ECB Bancorp stock in a transaction dated Monday, December 8th. The stock was purchased at an average price of $16.83 per share, for a total transaction of $49,429.71. Following the completion of the purchase, the director directly owned 2,937 shares of the company’s stock, valued at approximately $49,429.71. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 9.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in ECB Bancorp by 36.8% in the 3rd quarter. Bank of America Corp DE now owns 4,699 shares of the company’s stock valued at $75,000 after buying an additional 1,264 shares in the last quarter. Rhumbline Advisers grew its position in shares of ECB Bancorp by 14.8% in the third quarter. Rhumbline Advisers now owns 11,551 shares of the company’s stock valued at $183,000 after purchasing an additional 1,485 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of ECB Bancorp by 61.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,898 shares of the company’s stock valued at $94,000 after purchasing an additional 2,248 shares during the period. Sachetta LLC lifted its holdings in ECB Bancorp by 3.1% during the 3rd quarter. Sachetta LLC now owns 118,853 shares of the company’s stock worth $1,886,000 after purchasing an additional 3,583 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in ECB Bancorp during the 2nd quarter worth about $65,000. 30.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

About ECB Bancorp

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.