ECB Bancorp (NASDAQ:ECBK) Stock Falls 1.5% – What’s Next?

ECB Bancorp, Inc. (NASDAQ:ECBK) shares were down 1.5% on Monday. The stock traded as low as $20.80 and last traded at $20.81. Approximately 4,143 shares were traded during mid-day trading, a decline of 55% from the average session volume of 9,112 shares. The stock had previously closed at $21.12.

Analyst Ratings Changes

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

ECB Bancorp Trading Down 2.5%

The company has a market cap of $174.45 million, a price-to-earnings ratio of 14.57 and a beta of 0.46. The firm has a 50-day moving average price of $20.74 and a 200 day moving average price of $19.53. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.58.

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

Hedge Funds Weigh In On ECB Bancorp

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

About ECB Bancorp

ECB Bancorp, Inc is the bank holding company for Everett Co-operative Bank, a community-oriented financial institution headquartered in Everett, Massachusetts. Through its banking subsidiary, the company provides deposit, lending and other financial services to individuals, families, businesses and nonprofit organizations.

Everett Co-operative Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, construction and land development financing, commercial and industrial loans, home equity products and consumer loans.