ECB Bancorp (NASDAQ:ECBK) Releases Quarterly Earnings Results

Key Points

• ECB Bancorp reported quarterly earnings of $0.29 per share, with a return on equity of 3.17% and a net margin of 7.29%.
• The company's stock rose 2.8% on the day of the earnings announcement, closing at $15.98 per share.
• Institutional investors now own 30.27% of ECB Bancorp, with notable recent purchases from firms like Geode Capital Management and JPMorgan Chase.

ECB Bancorp (NASDAQ:ECBK - Get Free Report) posted its quarterly earnings data 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%

ECBK traded up $0.43 on Wednesday, hitting $15.98. 6,854 shares of the company were exchanged, compared to its average volume of 18,296. ECB Bancorp has a 12 month low of $12.56 and a 12 month 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. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.30 and a current ratio of 1.30. The stock's fifty day moving average is $16.17 and its 200-day moving average is $15.94.

Institutional Trading of ECB Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of ECBK. Jane Street Group LLC bought a new stake in ECB Bancorp during the first quarter worth about $200,000. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 92,310 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in ECB Bancorp during the second quarter worth about $56,000. New York State Common Retirement Fund bought a new stake in ECB Bancorp during the second quarter worth about $103,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in ECB Bancorp in the second quarter valued at approximately $65,000. Institutional investors own 30.27% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of ECB Bancorp in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy".

About ECB Bancorp

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.

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