ECB Bancorp (NASDAQ:ECBK) Releases Earnings Results

ECB Bancorp (NASDAQ:ECBK) issued its earnings results on Wednesday. The company reported $0.29 earnings per share for the quarter, Zacks reports. ECB Bancorp had a return on equity of 3.17% and a net margin of 7.29%.

ECB Bancorp Stock Up 2.8%

NASDAQ:ECBK opened at $15.98 on Thursday. The firm’s 50 day simple moving average is $16.16 and its 200 day simple moving average is $15.94. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.30 and a quick ratio of 1.30. ECB Bancorp has a one year low of $12.56 and a one year high of $17.33. The company has a market cap of $141.42 million, a PE ratio of 24.97 and a beta of 0.47.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of ECB Bancorp in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, ECB Bancorp presently has an average rating of “Buy”.

Institutional Investors Weigh In On ECB Bancorp

Several hedge funds have recently added to or reduced their stakes in ECBK. Bank of America Corp DE lifted its holdings in ECB Bancorp by 5,104.5% during the 2nd 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. acquired a new position in ECB Bancorp during the 2nd quarter worth about $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ECB Bancorp during the 2nd quarter worth about $65,000. New York State Common Retirement Fund acquired a new position in ECB Bancorp during the 2nd quarter worth about $103,000. Finally, Jane Street Group LLC acquired a new position in ECB Bancorp during the 1st quarter worth about $200,000. 30.27% of the stock is currently owned by institutional investors and hedge funds.

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.