ECB Bancorp, Inc. (NASDAQ:ECBK) Sees Large Drop in Short Interest

ECB Bancorp, Inc. (NASDAQ:ECBK) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 11,700 shares, a decrease of 7.1% from the September 30th total of 12,600 shares. Based on an average trading volume of 9,500 shares, the short-interest ratio is currently 1.2 days. Currently, 0.2% of the shares of the stock are short sold.

Insider Transactions at ECB Bancorp

In other ECB Bancorp news, CFO Brandon Lavertu bought 5,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average cost of $13.97 per share, for a total transaction of $69,850.00. Following the completion of the purchase, the chief financial officer now directly owns 45,000 shares of the company’s stock, valued at approximately $628,650. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 6.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ECB Bancorp

A hedge fund recently bought a new stake in ECB Bancorp stock. Eastern Bank purchased a new position in shares of ECB Bancorp, Inc. (NASDAQ:ECBK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,000 shares of the company’s stock, valued at approximately $229,000. Eastern Bank owned about 0.17% of ECB Bancorp at the end of the most recent quarter. 30.27% of the stock is owned by institutional investors and hedge funds.

ECB Bancorp Price Performance

Shares of ECBK traded up $0.23 during mid-day trading on Thursday, reaching $15.00. The company had a trading volume of 1,572 shares, compared to its average volume of 7,070. The company’s 50 day simple moving average is $14.20 and its 200 day simple moving average is $13.20. The company has a market capitalization of $137.82 million, a price-to-earnings ratio of 37.82 and a beta of 0.79. ECB Bancorp has a 1-year low of $9.88 and a 1-year high of $15.30. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.32 and a current ratio of 1.32.

ECB Bancorp (NASDAQ:ECBK) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.09 earnings per share (EPS) for the quarter. ECB Bancorp had a net margin of 5.68% and a return on equity of 2.14%. The company had revenue of $6.30 million during the quarter.

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.