Wall Street Zen Upgrades ECB Bancorp (NASDAQ:ECBK) to Hold

by · The Markets Daily

ECB Bancorp (NASDAQ:ECBK – Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of ECB Bancorp from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Read Our Latest Analysis on ECB Bancorp

ECB Bancorp Price Performance

ECB Bancorp stock opened at $21.66 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.29 and a current ratio of 1.29. ECB Bancorp has a one year low of $15.19 and a one year high of $21.78. The company has a 50-day simple moving average of $20.69 and a 200-day simple moving average of $19.73. The firm has a market capitalization of $189.31 million, a P/E ratio of 15.81 and a beta of 0.46.

ECB Bancorp (NASDAQ:ECBK – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.39 earnings per share for the quarter. ECB Bancorp had a net margin of 13.19% and a return on equity of 6.55%. The firm had revenue of $10.34 million for the quarter.

Hedge Funds Weigh In On ECB Bancorp

A number of large investors have recently made changes to their positions in the business. Deutsche Bank AG acquired a new position in shares of ECB Bancorp in the second quarter worth $146,000. Raffles Associates LP bought a new position in shares of ECB Bancorp in the 2nd quarter valued at approximately $266,000. Bank of New York Mellon Corp bought a new position in shares of ECB Bancorp in the second quarter valued at approximately $360,000. Finally, BlackRock Inc. acquired a new position in ECB Bancorp during the 2nd quarter worth $8,401,000. Institutional investors and hedge funds own 30.27% of the company’s stock.

About ECB Bancorp

(Get Free Report)

ECB Bancorp, Inc (NASDAQ: ECBK) is the holding company for Everett Co-operative Bank, a community-focused savings bank headquartered in Everett, Massachusetts. The bank serves individuals, families and businesses in the Greater Boston area through its branch network and digital banking services.

Everett Co-operative Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, commercial business loans, home equity products and consumer loans.

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