Peoples Bancorp of North Carolina (NASDAQ:PEBK) Announces Quarterly Earnings Results

Peoples Bancorp of North Carolina (NASDAQ:PEBK) released its quarterly earnings data on Monday. The bank reported $1.21 earnings per share for the quarter, FiscalAI reports. Peoples Bancorp of North Carolina had a return on equity of 11.91% and a net margin of 15.11%.The firm had revenue of $24.99 million during the quarter.

Peoples Bancorp of North Carolina Trading Down 1.1%

PEBK stock opened at $35.89 on Tuesday. The firm has a fifty day moving average price of $35.26 and a 200 day moving average price of $31.96. Peoples Bancorp of North Carolina has a fifty-two week low of $23.74 and a fifty-two week high of $38.46. The firm has a market cap of $195.96 million, a PE ratio of 11.73 and a beta of 0.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.84 and a current ratio of 0.84.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently announced an annual dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, February 4th will be given a dividend of $0.17 per share. This represents a dividend yield of 47.0%. The ex-dividend date is Wednesday, February 4th. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 26.14%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A number of institutional investors and hedge funds have recently made changes to their positions in PEBK. BNP Paribas Financial Markets raised its position in shares of Peoples Bancorp of North Carolina by 28.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock valued at $49,000 after buying an additional 351 shares in the last quarter. Russell Investments Group Ltd. grew its position in Peoples Bancorp of North Carolina by 116.7% in 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 in the last quarter. Geode Capital Management LLC increased its stake in Peoples Bancorp of North Carolina by 0.5% during the second quarter. Geode Capital Management LLC now owns 109,401 shares of the bank’s stock worth $3,157,000 after acquiring an additional 530 shares during the last quarter. JPMorgan Chase & Co. raised its position in Peoples Bancorp of North Carolina by 21.9% during the third quarter. JPMorgan Chase & Co. now owns 3,684 shares of the bank’s stock valued at $113,000 after purchasing an additional 662 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Peoples Bancorp of North Carolina by 30.4% during the third quarter. Farther Finance Advisors LLC now owns 3,155 shares of the bank’s stock valued at $97,000 after purchasing an additional 735 shares during the period. 43.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PEBK shares. Weiss Ratings restated a “hold (c)” rating on shares of Peoples Bancorp of North Carolina in a research report on Thursday. Wall Street Zen upgraded Peoples Bancorp of North Carolina to a “hold” rating in a report on Saturday, December 20th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Peoples Bancorp of North Carolina has a consensus rating of “Hold”.

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.