ECB Bancorp, Inc. (NASDAQ:ECBK) Short Interest Update

ECB Bancorp, Inc. (NASDAQ:ECBK) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 8,000 shares, a drop of 31.6% from the October 15th total of 11,700 shares. Based on an average daily trading volume, of 10,300 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.1% of the company’s stock are sold short.

ECB Bancorp Stock Performance

NASDAQ:ECBK remained flat at $14.96 on Thursday. 128 shares of the company’s stock were exchanged, compared to its average volume of 7,145. The stock’s 50 day moving average is $14.52 and its two-hundred day moving average is $13.38. ECB Bancorp has a 1-year low of $10.78 and a 1-year high of $15.68. The company has a quick ratio of 1.32, a current ratio of 1.31 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $136.39 million, a P/E ratio of 38.35 and a beta of 0.76.

ECB Bancorp (NASDAQ:ECBK) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $6.60 million for the quarter. ECB Bancorp had a return on equity of 2.01% and a net margin of 5.11%.

Insider Buying and Selling at ECB Bancorp

In related news, CFO Brandon Lavertu bought 5,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $13.97 per share, with a total value of $69,850.00. Following the completion of the purchase, the chief financial officer now owns 45,000 shares in the company, valued at approximately $628,650. The trade was a 12.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On ECB Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of ECBK. Renaissance Technologies LLC increased its position in ECB Bancorp by 3.7% during the second quarter. Renaissance Technologies LLC now owns 36,400 shares of the company’s stock valued at $454,000 after acquiring an additional 1,300 shares during the last quarter. Eastern Bank purchased a new stake in shares of ECB Bancorp during the 3rd quarter valued at about $229,000. Finally, Sachetta LLC boosted its holdings in shares of ECB Bancorp by 2.2% in the third quarter. Sachetta LLC now owns 109,438 shares of the company’s stock worth $1,567,000 after buying an additional 2,333 shares during the last quarter. 30.27% of the stock is owned by 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.