StockNews.com Upgrades Peoples Bancorp of North Carolina (NASDAQ:PEBK) to “Buy”

Peoples Bancorp of North Carolina (NASDAQ:PEBK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Peoples Bancorp of North Carolina Stock Performance

PEBK opened at $28.99 on Thursday. The firm has a market capitalization of $158.29 million, a PE ratio of 9.89 and a beta of 0.62. Peoples Bancorp of North Carolina has a twelve month low of $16.35 and a twelve month high of $30.99. The firm’s 50-day moving average price is $27.30 and its 200 day moving average price is $26.90. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling

In related news, Director James S. Abernethy sold 3,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.50, for a total transaction of $73,500.00. Following the transaction, the director now directly owns 83,706 shares in the company, valued at $2,050,797. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

A hedge fund recently raised its stake in Peoples Bancorp of North Carolina stock. Gendell Jeffrey L increased its holdings in shares of Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 217,763 shares of the bank’s stock after acquiring an additional 2,123 shares during the quarter. Gendell Jeffrey L owned about 3.90% of Peoples Bancorp of North Carolina worth $4,790,000 at the end of the most recent reporting period. 43.83% of the stock is owned by hedge funds and other institutional investors.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various banking products and services for individuals and small-to medium-sized businesses. It offers checking, savings, money market, and retirement accounts; certificates of deposits; and credit and debit cards.