Peoples Bancorp of North Carolina (NASDAQ:PEBK) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Peoples Bancorp of North Carolina Trading Up 2.0 %

Shares of NASDAQ:PEBK opened at $30.24 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day moving average is $30.38 and its 200-day moving average is $28.78. The company has a market cap of $165.11 million, a P/E ratio of 10.25 and a beta of 0.60. Peoples Bancorp of North Carolina has a 52-week low of $23.74 and a 52-week high of $33.31.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Wednesday, February 12th. The bank reported $0.65 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.92% and a net margin of 15.27%.

Peoples Bancorp of North Carolina Dividend Announcement

The business also recently announced a special dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a dividend of $0.16 per share. The ex-dividend date is Monday, February 3rd. Peoples Bancorp of North Carolina’s payout ratio is currently 25.76%.

Insider Buying and Selling at Peoples Bancorp of North Carolina

In related news, Director James S. Abernethy sold 1,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $30.02, for a total transaction of $30,020.00. Following the transaction, the director now directly owns 73,976 shares in the company, valued at $2,220,759.52. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 16.94% of the company’s stock.

Institutional Trading of Peoples Bancorp of North Carolina

A number of institutional investors and hedge funds have recently modified their holdings of PEBK. Barclays PLC lifted its position in Peoples Bancorp of North Carolina by 390.6% in the third quarter. Barclays PLC now owns 7,801 shares of the bank’s stock worth $198,000 after purchasing an additional 6,211 shares during the period. State Street Corp raised its stake in shares of Peoples Bancorp of North Carolina by 7.5% in the 3rd quarter. State Street Corp now owns 54,510 shares of the bank’s stock valued at $1,384,000 after buying an additional 3,791 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Peoples Bancorp of North Carolina by 985.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,000 shares of the bank’s stock worth $203,000 after acquiring an additional 7,263 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Peoples Bancorp of North Carolina by 15.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,366 shares of the bank’s stock valued at $111,000 after acquiring an additional 576 shares in the last quarter. Finally, De Lisle Partners LLP bought a new stake in Peoples Bancorp of North Carolina in the third quarter valued at about $545,000. 43.83% of the stock is currently owned by institutional investors.

About Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards.