ECB Bancorp (NASDAQ:ECBK) Issues Earnings Results

ECB Bancorp (NASDAQ:ECBK) issued its earnings results on Thursday. The company reported $0.39 earnings per share for the quarter, FiscalAI reports. ECB Bancorp had a return on equity of 5.60% and a net margin of 11.49%.The company had revenue of $10.34 million for the quarter.

ECB Bancorp Stock Performance

Shares of NASDAQ ECBK traded up $0.27 during trading on Thursday, reaching $20.12. 672 shares of the stock traded hands, compared to its average volume of 11,206. The stock has a market capitalization of $176.09 million, a P/E ratio of 17.50 and a beta of 0.46. ECB Bancorp has a 52-week low of $14.83 and a 52-week high of $20.76. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.27 and a quick ratio of 1.27. The company has a 50-day moving average of $19.26 and a 200-day moving average of $18.15.

Hedge Funds Weigh In On ECB Bancorp

A number of large investors have recently made changes to their positions in ECBK. Geode Capital Management LLC increased its position in shares of ECB Bancorp by 114.6% during the second quarter. Geode Capital Management LLC now owns 172,835 shares of the company’s stock valued at $2,669,000 after buying an additional 92,310 shares during the period. Covalent Partners LLC bought a new stake in ECB Bancorp during the fourth quarter valued at $574,000. Jane Street Group LLC bought a new stake in shares of ECB Bancorp during the 1st quarter valued at about $200,000. Goldman Sachs Group Inc. boosted its position in shares of ECB Bancorp by 99.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,723 shares of the company’s stock valued at $360,000 after acquiring an additional 10,327 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of 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 in the last quarter. 30.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ECBK shares. Wall Street Zen upgraded shares of ECB Bancorp to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of ECB Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

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.