Peoples Bancorp of North Carolina (NASDAQ:PEBK) Share Price Passes Above 50 Day Moving Average – What’s Next?

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $42.29 and traded as high as $42.73. Peoples Bancorp of North Carolina shares last traded at $42.06, with a volume of 10,845 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Peoples Bancorp of North Carolina has an average rating of “Buy”.

Peoples Bancorp of North Carolina Stock Performance

The stock has a market cap of $232.27 million, a price-to-earnings ratio of 11.72 and a beta of 0.29. The firm’s 50-day moving average is $42.33 and its two-hundred day moving average is $39.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its quarterly earnings data on Monday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a return on equity of 13.07% and a net margin of 17.22%.The company had revenue of $21.57 million for the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Wednesday, June 3rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Peoples Bancorp of North Carolina’s payout ratio is currently 23.14%.

Insider Activity at Peoples Bancorp of North Carolina

In related news, Director Ashton V. Abernethy sold 950 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $42.26, for a total transaction of $40,147.00. Following the completion of the sale, the director directly owned 43,838 shares in the company, valued at approximately $1,852,593.88. The trade was a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert C. Abernethy, Jr. sold 1,200 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $41.61, for a total value of $49,932.00. Following the completion of the transaction, the director directly owned 55,058 shares of the company’s stock, valued at approximately $2,290,963.38. This represents a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,450 shares of company stock valued at $182,895 over the last quarter. 14.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

A number of hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its position in Peoples Bancorp of North Carolina by 116.7% during the third quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after acquiring an additional 502 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Peoples Bancorp of North Carolina during the 3rd quarter valued at about $45,000. BNP Paribas Financial Markets raised its holdings in Peoples Bancorp of North Carolina by 28.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after acquiring an additional 351 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Peoples Bancorp of North Carolina in the 2nd quarter valued at about $63,000. Finally, MetLife Investment Management LLC purchased a new position in Peoples Bancorp of North Carolina in the 4th quarter worth approximately $88,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

About Peoples Bancorp of North Carolina

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.