ECB Bancorp (NASDAQ:ECBK) Shares Up 1.4% - Time to Buy?

Key Points

• ECB Bancorp shares rose 1.4% to $20.73, trading above the 50-day moving average of $20.30 and below the 200-day average of $18.72. Trading volume was 17% below the daily average.
• Analyst sentiment is positive: ECB Bancorp holds a consensus “Strong Buy” rating, with one analyst rating the stock Strong Buy and recent upgrades from Wall Street Zen and Weiss Ratings.
• The company reported quarterly EPS of $0.39 on $10.34 million in revenue, alongside a 13.19% net margin and 6.55% return on equity. Institutional investors own 30.27% of the shares.

ECB Bancorp, Inc. (NASDAQ:ECBK - Get Free Report)'s stock price rose 1.4% during trading on Thursday . The stock traded as high as $20.88 and last traded at $20.73. 7,747 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 9,294 shares. The stock had previously closed at $20.44.

Analysts Set New Price Targets

ECBK has been the topic of several analyst reports. Wall Street Zen upgraded ECB Bancorp to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings raised ECB Bancorp from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of "Strong Buy".

ECB Bancorp Trading Up 1.4%

The company's fifty day moving average is $20.30 and its two-hundred day moving average is $18.72. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.58. The stock has a market cap of $181.14 million, a price-to-earnings ratio of 15.13 and a beta of 0.45.

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

Institutional Trading of ECB Bancorp

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in shares of ECB Bancorp by 40.5% during the 4th quarter. Wells Fargo & Company MN now owns 8,949 shares of the company's stock worth $156,000 after acquiring an additional 2,580 shares in the last quarter. Bank of America Corp DE lifted its stake in ECB Bancorp by 36.8% during the third quarter. Bank of America Corp DE now owns 4,699 shares of the company's stock worth $75,000 after purchasing an additional 1,264 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in ECB Bancorp by 61.6% in the third quarter. JPMorgan Chase & Co. now owns 5,898 shares of the company's stock valued at $94,000 after purchasing an additional 2,248 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in ECB Bancorp in the second quarter valued at approximately $65,000. Finally, New York State Common Retirement Fund purchased a new position in ECB Bancorp in the second quarter valued at approximately $103,000. 30.27% of the stock is owned by hedge funds and other institutional investors.

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. 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.

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