Weiss Ratings Downgrades ECB Bancorp (NASDAQ:ECBK) to Hold (C+)

Key Points

• Weiss Ratings has downgraded ECB Bancorp from a "buy (b-)" to a "hold (c+)" rating, indicating a more cautious outlook for the company.
• ECB Bancorp's stock has decreased by 1.2% and currently trades at $15.96, with a market capitalization of $141.25 million.
• Institutional investors now hold 30.27% of ECB Bancorp following significant acquisitions during the second quarter.

ECB Bancorp (NASDAQ:ECBK - Get Free Report) was downgraded by stock analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a report released on Friday,Weiss Ratings reports.

ECB Bancorp Stock Down 1.2%

ECB Bancorp stock opened at $15.96 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $141.25 million, a price-to-earnings ratio of 20.20 and a beta of 0.47. ECB Bancorp has a 1-year low of $12.56 and a 1-year high of $17.33. The business has a fifty day moving average price of $16.14 and a 200-day moving average price of $15.95.

ECB Bancorp (NASDAQ:ECBK - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $8.80 million during the quarter. ECB Bancorp had a return on equity of 3.93% and a net margin of 8.69%.

Institutional Trading of ECB Bancorp

A number of institutional investors have recently made changes to their positions in ECBK. Bank of America Corp DE lifted its position in ECB Bancorp by 5,104.5% during the 2nd quarter. Bank of America Corp DE now owns 3,435 shares of the company's stock worth $53,000 after acquiring an additional 3,369 shares during the period. JPMorgan Chase & Co. acquired a new stake in ECB Bancorp during the 2nd quarter worth about $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in ECB Bancorp during the 2nd quarter worth about $65,000. New York State Common Retirement Fund acquired a new stake in ECB Bancorp during the 2nd quarter worth about $103,000. Finally, Jane Street Group LLC acquired a new stake in ECB Bancorp during the 1st quarter worth about $200,000. Institutional investors and hedge funds own 30.27% of the company's stock.

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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