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

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $40.76 and traded as high as $44.98. Peoples Bancorp of North Carolina shares last traded at $44.84, with a volume of 8,813 shares trading hands.

Analyst Upgrades and Downgrades

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 Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

Peoples Bancorp of North Carolina Stock Up 0.6%

The firm has a 50-day simple moving average of $43.15 and a 200 day simple moving average of $40.76. The stock has a market capitalization of $244.83 million, a P/E ratio of 12.32 and a beta of 0.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings results on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.The company had revenue of $23.11 million for the quarter.

Peoples Bancorp of North Carolina Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, June 3rd were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.84 annualized dividend and a yield of 1.9%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.08%.

Insider Buying and Selling at Peoples Bancorp of North Carolina

In other Peoples Bancorp of North Carolina news, Director Robert C. Abernethy, Jr. sold 950 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.33, for a total value of $40,213.50. Following the completion of the transaction, the director directly owned 58,766 shares in the company, valued at approximately $2,487,564.78. This represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ashton V. Abernethy sold 950 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $42.26, for a total transaction of $40,147.00. Following the completion of the transaction, the director owned 43,838 shares of the company’s stock, valued at approximately $1,852,593.88. This trade represents a 2.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,347 shares of company stock valued at $486,132. 14.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in Peoples Bancorp of North Carolina by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank’s stock worth $29,000 after buying an additional 502 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the third quarter valued at about $45,000. BNP Paribas Financial Markets raised its position in shares of Peoples Bancorp of North Carolina by 28.1% during the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank’s stock worth $49,000 after acquiring an additional 351 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Peoples Bancorp of North Carolina during the second quarter worth about $63,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Peoples Bancorp of North Carolina in the fourth quarter worth approximately $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.