Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $37.40 and traded as high as $37.98. Peoples Bancorp of North Carolina shares last traded at $37.61, with a volume of 17,039 shares traded.

Wall Street Analysts Forecast Growth

PEBK has been the topic of a number of research reports. Wall Street Zen raised shares of Peoples Bancorp of North Carolina to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings lowered shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Peoples Bancorp of North Carolina Price Performance

The company has a market capitalization of $205.35 million, a P/E ratio of 10.39 and a beta of 0.31. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.10. The business has a 50 day simple moving average of $37.40 and a 200-day simple moving average of $33.87.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings data on Monday, January 26th. The bank reported $1.21 earnings per share for the quarter. The business had revenue of $24.99 million for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.30% and a return on equity of 13.77%.

Peoples Bancorp of North Carolina Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th will be given a $0.21 dividend. This is a positive change from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, March 4th. This represents a $0.84 annualized dividend and a yield of 2.2%. Peoples Bancorp of North Carolina’s payout ratio is currently 23.20%.

Insider Activity at Peoples Bancorp of North Carolina

In other news, Director James S. Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $38.34, for a total transaction of $38,340.00. Following the sale, the director owned 72,526 shares of the company’s stock, valued at approximately $2,780,646.84. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 2,123 shares of company stock valued at $81,586 in the last quarter. 18.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in Peoples Bancorp of North Carolina in the 4th quarter valued at approximately $249,000. Maltese Capital Management LLC raised its stake in Peoples Bancorp of North Carolina by 1.2% during the 4th quarter. Maltese Capital Management LLC now owns 49,958 shares of the bank’s stock valued at $1,808,000 after acquiring an additional 612 shares in the last quarter. Fourthstone LLC boosted its position in Peoples Bancorp of North Carolina by 104.4% during the 4th quarter. Fourthstone LLC now owns 154,533 shares of the bank’s stock worth $5,594,000 after acquiring an additional 78,921 shares during the period. Wells Fargo & Company MN grew its stake in shares of Peoples Bancorp of North Carolina by 46.3% in the fourth quarter. Wells Fargo & Company MN now owns 4,725 shares of the bank’s stock worth $171,000 after purchasing an additional 1,495 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Peoples Bancorp of North Carolina in the fourth quarter worth $88,000. 43.83% of the stock is owned by institutional investors.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc is a bank holding company headquartered in Hickory, North Carolina, that operates through its wholly owned subsidiary, Peoples Bank. The company provides a comprehensive suite of banking and financial services tailored to individuals, small businesses, and municipal clients in the western region of North Carolina.

Through its community banking network, Peoples Bancorp offers deposit products such as checking, savings, money market accounts and certificates of deposit, alongside consumer and commercial lending solutions.