ECB Bancorp (NASDAQ:ECBK) Issues Earnings Results
by Renee Jackson · The Cerbat GemECB Bancorp (NASDAQ:ECBK – Get Free Report) issued its earnings results on Thursday. The company reported $0.38 earnings per share for the quarter, FiscalAI reports. ECB Bancorp had a return on equity of 4.59% and a net margin of 9.78%.The firm had revenue of $10.16 million for the quarter.
ECB Bancorp Stock Down 0.2%
Shares of ECBK traded down $0.03 during midday trading on Thursday, reaching $18.25. 3,584 shares of the company were exchanged, compared to its average volume of 10,725. The stock has a 50-day moving average price of $17.37 and a 200-day moving average price of $17.09. The company has a market cap of $160.24 million, a price-to-earnings ratio of 19.62 and a beta of 0.46. ECB Bancorp has a 1-year low of $14.82 and a 1-year high of $20.05. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.66.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded ECB Bancorp from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.
Get Our Latest Research Report on ECBK
Insider Activity at ECB Bancorp
In related news, Director Maura Ellen Sullivan acquired 2,200 shares of ECB Bancorp stock in a transaction on Monday, February 9th. The shares were bought at an average price of $18.50 per share, for a total transaction of $40,700.00. Following the completion of the purchase, the director directly owned 5,700 shares in the company, valued at $105,450. This trade represents a 62.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.40% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of ECBK. Jane Street Group LLC acquired a new position in shares of ECB Bancorp during the first quarter worth about $200,000. Geode Capital Management LLC lifted its stake 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 worth $2,669,000 after purchasing an additional 92,310 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of ECB Bancorp during the second quarter worth about $56,000. New York State Common Retirement Fund acquired a new position in shares of ECB Bancorp during the second quarter worth about $103,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of ECB Bancorp during the second quarter worth about $65,000. Institutional investors and hedge funds 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.