ECB Bancorp, Inc. (NASDAQ:ECBK – Get Free Report) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 11,700 shares, a decline of 7.1% from the September 30th total of 12,600 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 9,500 shares, the days-to-cover ratio is presently 1.2 days.
Insider Activity at ECB Bancorp
In other news, CFO Brandon Lavertu bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $13.97 per share, with a total value of $69,850.00. Following the transaction, the chief financial officer now owns 45,000 shares in the company, valued at $628,650. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On ECB Bancorp
An institutional investor recently bought a new position in ECB Bancorp stock. Eastern Bank acquired a new stake in ECB Bancorp, Inc. (NASDAQ:ECBK – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 16,000 shares of the company’s stock, valued at approximately $229,000. Eastern Bank owned 0.17% of ECB Bancorp as of its most recent SEC filing. 30.27% of the stock is currently owned by hedge funds and other institutional investors.
ECB Bancorp Stock Performance
ECB Bancorp (NASDAQ:ECBK – Get Free Report) last issued its quarterly earnings data on Friday, August 9th. The company reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $6.30 million during the quarter. ECB Bancorp had a net margin of 5.68% and a return on equity of 2.14%.
ECB Bancorp Company Profile
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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