Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Short Interest Update

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 49,839 shares, a decrease of 15.7% from the March 31st total of 59,096 shares. Based on an average daily trading volume, of 41,990 shares, the short-interest ratio is currently 1.2 days. Approximately 1.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Peoples Bancorp of North Carolina Trading Up 2.0%

Shares of PEBK stock traded up $0.78 during trading hours on Friday, hitting $40.20. The company had a trading volume of 9,893 shares, compared to its average volume of 25,845. The stock has a market capitalization of $219.46 million, a PE ratio of 11.07 and a beta of 0.30. Peoples Bancorp of North Carolina has a fifty-two week low of $26.81 and a fifty-two week high of $42.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day moving average is $39.23 and its 200 day moving average is $36.03.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its earnings results on Monday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter. The company had revenue of $21.57 million for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.24%.

Peoples Bancorp of North Carolina Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.21 per share. This is a boost from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.14%.

Insider Buying and Selling at Peoples Bancorp of North Carolina

In other news, Director James S. Abernethy sold 1,000 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $38.34, for a total value of $38,340.00. Following the completion of the sale, the director owned 72,526 shares of the company’s stock, valued at $2,780,646.84. This represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 2,723 shares of company stock valued at $105,622. Corporate insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

A number of hedge funds have recently added to or reduced their stakes in PEBK. Empowered Funds LLC lifted its holdings in Peoples Bancorp of North Carolina by 7.1% during the 1st quarter. Empowered Funds LLC now owns 34,009 shares of the bank’s stock worth $926,000 after buying an additional 2,244 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Peoples Bancorp of North Carolina by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock valued at $3,157,000 after purchasing an additional 530 shares during the last quarter. First Trust Advisors LP increased its position in shares of Peoples Bancorp of North Carolina by 15.1% in the 2nd quarter. First Trust Advisors LP now owns 21,366 shares of the bank’s stock valued at $616,000 after purchasing an additional 2,809 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at approximately $63,000. Finally, Jane Street Group LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 2nd quarter valued at approximately $212,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

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.