ECB Bancorp (NASDAQ:ECBK) Trading 0.1% Higher – Still a Buy?

ECB Bancorp, Inc. (NASDAQ:ECBK)’s stock price was up 0.1% on Wednesday . The stock traded as high as $20.69 and last traded at $20.63. 10,942 shares were traded during trading, an increase of 30% from the average session volume of 8,416 shares. The stock had previously closed at $20.61.

Analyst Ratings Changes

A number of equities analysts have issued reports on ECBK shares. Wall Street Zen upgraded shares of 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 note on Monday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

ECB Bancorp Price Performance

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 firm has a market capitalization of $181.03 million, a PE ratio of 15.10 and a beta of 0.45. The company has a 50-day moving average price of $19.76 and a 200-day moving average price of $18.40.

ECB Bancorp (NASDAQ:ECBK) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.39 EPS for the quarter. The firm had revenue of $10.34 million during the quarter. ECB Bancorp had a return on equity of 6.62% and a net margin of 13.19%.

Hedge Funds Weigh In On ECB Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in ECB Bancorp by 5,104.5% during the second quarter. Bank of America Corp DE now owns 3,435 shares of the company’s stock worth $53,000 after acquiring an additional 3,369 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of ECB Bancorp during the 2nd quarter worth $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of ECB Bancorp during the second quarter worth $65,000. Farther Finance Advisors LLC acquired a new stake in shares of ECB Bancorp during the fourth quarter worth $87,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of ECB Bancorp in the second quarter valued at $103,000. Hedge funds and other institutional investors own 30.27% of the company’s stock.

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.