Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock Passes Above 200 Day Moving Average – Here’s Why

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $36.36 and traded as high as $41.65. Peoples Bancorp of North Carolina shares last traded at $41.31, with a volume of 23,353 shares changing hands.

Wall Street Analyst Weigh In

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

Peoples Bancorp of North Carolina Price Performance

The business’s 50 day moving average price is $39.34 and its two-hundred day moving average price is $36.36. The stock has a market cap of $225.55 million, a P/E ratio of 11.38 and a beta of 0.28. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.10.

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

Peoples Bancorp of North Carolina Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.84 annualized dividend and a dividend yield of 2.0%. This is an increase from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.20. Peoples Bancorp of North Carolina’s dividend payout ratio is currently 23.14%.

Insider Activity at Peoples Bancorp of North Carolina

In other news, Director James S. Abernethy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $38.34, for a total value of $38,340.00. Following the completion of the transaction, the director owned 72,526 shares in the company, valued at $2,780,646.84. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 3,323 shares of company stock valued at $129,232. Company insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted 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 valued at $29,000 after buying an additional 502 shares during the period. Advisory Services Network LLC bought a new position in shares of Peoples Bancorp of North Carolina in the 3rd quarter worth about $45,000. BNP Paribas Financial Markets increased its stake in shares of 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 worth $49,000 after acquiring an additional 351 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Peoples Bancorp of North Carolina during the 2nd quarter valued at about $63,000. Finally, MetLife Investment Management LLC bought a new stake in Peoples Bancorp of North Carolina during the fourth quarter worth about $88,000. Institutional investors own 43.83% of the company’s stock.

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.