Geode Capital Management LLC Reduces Holdings in ECB Bancorp, Inc. (NASDAQ:ECBK)

Geode Capital Management LLC lowered its position in ECB Bancorp, Inc. (NASDAQ:ECBK) by 10.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 79,092 shares of the company’s stock after selling 8,786 shares during the period. Geode Capital Management LLC’s holdings in ECB Bancorp were worth $1,133,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in ECBK. Sachetta LLC raised its position in shares of ECB Bancorp by 2.2% in the third quarter. Sachetta LLC now owns 109,438 shares of the company’s stock valued at $1,567,000 after purchasing an additional 2,333 shares during the period. Renaissance Technologies LLC boosted its holdings in ECB Bancorp by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 36,400 shares of the company’s stock worth $454,000 after buying an additional 1,300 shares during the period. Finally, Eastern Bank purchased a new position in ECB Bancorp in the 3rd quarter valued at approximately $229,000. 30.27% of the stock is owned by hedge funds and other institutional investors.

ECB Bancorp Trading Down 5.2 %

Shares of ECBK stock opened at $13.63 on Friday. ECB Bancorp, Inc. has a 1 year low of $11.39 and a 1 year high of $15.75. The company’s fifty day simple moving average is $14.97 and its two-hundred day simple moving average is $14.14. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $124.28 million, a price-to-earnings ratio of 34.95 and a beta of 0.72.

ECB Bancorp (NASDAQ:ECBK) last issued 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%.

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.