ECB Bancorp (NASDAQ:ECBK) Stock Price Down 0.5% – Should You Sell?

ECB Bancorp, Inc. (NASDAQ:ECBK) shares traded down 0.5% during trading on Tuesday . The company traded as low as $17.25 and last traded at $17.25. 7,538 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 15,220 shares. The stock had previously closed at $17.34.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ECB Bancorp in a research note on Monday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

ECB Bancorp Stock Performance

The stock has a market cap of $151.80 million, a price-to-earnings ratio of 21.84 and a beta of 0.45. The company’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $16.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.53.

ECB Bancorp (NASDAQ:ECBK) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.29 EPS for the quarter. The company had revenue of $8.80 million during the quarter. ECB Bancorp had a return on equity of 3.93% and a net margin of 8.69%.

Insider Activity at ECB Bancorp

In related news, Director Maura Ellen Sullivan purchased 2,937 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average price of $16.83 per share, for a total transaction of $49,429.71. Following the transaction, the director directly owned 2,937 shares of the company’s stock, valued at $49,429.71. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.00% of the stock is currently owned by corporate insiders.

Institutional Trading of ECB Bancorp

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of 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 worth $53,000 after buying an additional 3,369 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of ECB Bancorp in the 2nd quarter valued at approximately $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ECB Bancorp in the 2nd quarter worth approximately $65,000. New York State Common Retirement Fund purchased a new position in ECB Bancorp during the 2nd quarter worth approximately $103,000. Finally, Rhumbline Advisers grew its position in ECB Bancorp by 14.8% during the 3rd quarter. Rhumbline Advisers now owns 11,551 shares of the company’s stock worth $183,000 after purchasing an additional 1,485 shares in the last quarter. 30.27% of the stock is owned by hedge funds and other institutional investors.

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.