ECB Bancorp (NASDAQ:ECBK) Trading Up 0.3% – What’s Next?

ECB Bancorp, Inc. (NASDAQ:ECBK)’s share price traded up 0.3% during mid-day trading on Wednesday . The stock traded as high as $17.40 and last traded at $17.38. 13,852 shares changed hands during mid-day trading, an increase of 128% from the average session volume of 6,069 shares. The stock had previously closed at $17.32.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ECB Bancorp in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

ECB Bancorp Stock Up 0.3%

The business has a 50-day simple moving average of $17.23 and a two-hundred day simple moving average of $16.54. The stock has a market capitalization of $152.94 million, a P/E ratio of 22.00 and a beta of 0.45. 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 issued its quarterly earnings data on Wednesday, October 22nd. The company reported $0.29 earnings per share (EPS) for the quarter. ECB Bancorp had a return on equity of 3.93% and a net margin of 8.69%.The company had revenue of $8.80 million during the quarter.

Insider Activity

In other news, Director Maura Ellen Sullivan purchased 2,937 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was purchased at an average cost of $16.83 per share, with a total value of $49,429.71. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.00% of the stock is owned by company insiders.

Institutional Trading of ECB Bancorp

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of ECB Bancorp by 114.6% in 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. Jane Street Group LLC acquired a new stake in ECB Bancorp during the 1st quarter valued at $200,000. Rhumbline Advisers raised its position in ECB Bancorp by 14.8% in the 3rd quarter. Rhumbline Advisers now owns 11,551 shares of the company’s stock valued at $183,000 after purchasing an additional 1,485 shares during the last quarter. New York State Common Retirement Fund acquired a new position in ECB Bancorp in the second quarter worth $103,000. Finally, JPMorgan Chase & Co. boosted its stake in ECB Bancorp by 61.6% in the third quarter. JPMorgan Chase & Co. now owns 5,898 shares of the company’s stock worth $94,000 after purchasing an additional 2,248 shares in the last quarter. 30.27% of the stock is 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.