ECB Bancorp (NASDAQ:ECBK) Trading 0.5% Higher – Here’s Why

ECB Bancorp, Inc. (NASDAQ:ECBK)’s share price was up 0.5% during trading on Tuesday . The company traded as high as $20.11 and last traded at $20.11. 2,752 shares were traded during trading, a decline of 84% from the average session volume of 16,885 shares. The stock had previously closed at $20.01.

Analyst Upgrades and Downgrades

ECBK has been the topic of several research reports. Wall Street Zen raised ECB Bancorp to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of ECB Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, ECB Bancorp presently has a consensus rating of “Buy”.

ECB Bancorp Stock Performance

The business’s 50-day moving average price is $19.09 and its 200-day moving average price is $18.06. 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 stock has a market cap of $179.28 million, a P/E ratio of 17.81 and a beta of 0.46.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ECBK. Geode Capital Management LLC grew its stake in shares of ECB Bancorp by 114.6% during the 2nd quarter. Geode Capital Management LLC now owns 172,835 shares of the company’s stock valued at $2,669,000 after acquiring an additional 92,310 shares during the period. Covalent Partners LLC bought a new stake in ECB Bancorp during the 4th quarter worth approximately $574,000. Jane Street Group LLC bought a new stake in ECB Bancorp during the 1st quarter worth approximately $200,000. Goldman Sachs Group Inc. raised its stake in ECB Bancorp by 99.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,723 shares of the company’s stock worth $360,000 after acquiring an additional 10,327 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in ECB Bancorp by 22.9% during the fourth quarter. HighTower Advisors LLC now owns 43,000 shares of the company’s stock valued at $748,000 after purchasing an additional 8,000 shares in the last quarter. Institutional investors own 30.27% of the company’s stock.

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.