ECB Bancorp (NASDAQ:ECBK) Stock Rating Raised to “Hold” at Wall Street Zen

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

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

ECB Bancorp Stock Up 1.5%

Shares of ECBK opened at $21.66 on Friday. The company has a market capitalization of $189.31 million, a price-to-earnings ratio of 15.81 and a beta of 0.46. ECB Bancorp has a 52 week low of $15.19 and a 52 week high of $21.78. The stock’s 50-day moving average price is $20.69 and its 200-day moving average price is $19.71. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.58.

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

Institutional Trading of ECB Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in ECBK. Deutsche Bank AG acquired a new stake in ECB Bancorp in the 2nd quarter worth about $146,000. Raffles Associates LP acquired a new position in shares of ECB Bancorp during the 2nd quarter valued at $266,000. Bank of New York Mellon Corp purchased a new stake in ECB Bancorp during the 2nd quarter worth $360,000. Finally, BlackRock Inc. purchased a new stake in shares of ECB Bancorp in the second quarter worth about $8,401,000. Hedge funds and other institutional investors own 30.27% of the company’s stock.

About ECB Bancorp

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.