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

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK – Get Free Report)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $43.74 and traded as high as $44.71. Peoples Bancorp of North Carolina shares last traded at $43.58, with a volume of 10,379 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Peoples Bancorp of North Carolina from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Peoples Bancorp of North Carolina has an average rating of “Buy”.

View Our Latest Stock Report on Peoples Bancorp of North Carolina

Peoples Bancorp of North Carolina Price Performance

The stock has a market cap of $239.04 million, a price-to-earnings ratio of 12.03 and a beta of 0.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $43.75 and its two-hundred day simple moving average is $42.29.

Peoples Bancorp of North Carolina (NASDAQ:PEBK – Get Free Report) last posted 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 net margin of 17.25% and a return on equity of 12.75%. The business had revenue of $23.11 million for the quarter.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, September 3rd. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is currently 23.08%.

Insider Buying and Selling

In other news, Director Robert C. Abernethy sold 7,000 shares of Peoples Bancorp of North Carolina stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $43.61, for a total value of $305,270.00. Following the completion of the sale, the director owned 101,116 shares of the company’s stock, valued at $4,409,668.76. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $43.11, for a total value of $43,110.00. Following the completion of the sale, the director owned 65,626 shares of the company’s stock, valued at $2,829,136.86. This trade represents a 1.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 18,397 shares of company stock worth $796,889. 14.50% of the stock is owned by insiders.

Institutional Trading of Peoples Bancorp of North Carolina

Several large investors have recently added to or reduced their stakes in the stock. GTS Securities LLC acquired a new stake in Peoples Bancorp of North Carolina in the second quarter valued at approximately $219,000. Empowered Funds LLC grew its holdings in Peoples Bancorp of North Carolina by 3.3% during the 1st quarter. Empowered Funds LLC now owns 35,324 shares of the bank’s stock valued at $1,383,000 after purchasing an additional 1,112 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Peoples Bancorp of North Carolina by 33.3% in the 1st quarter. Renaissance Technologies LLC now owns 37,614 shares of the bank’s stock worth $1,473,000 after buying an additional 9,407 shares in the last quarter. First Trust Advisors LP acquired a new position in Peoples Bancorp of North Carolina in the 1st quarter worth $236,000. Finally, Dimensional Fund Advisors LP boosted its position in Peoples Bancorp of North Carolina by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 167,283 shares of the bank’s stock valued at $6,551,000 after buying an additional 7,404 shares during the last quarter. 43.83% of the stock is currently owned by institutional investors and hedge funds.

About Peoples Bancorp of North Carolina

(Get Free Report)

Peoples Bancorp of North Carolina, Inc is the bank holding company for Peoples Bank, a community banking institution headquartered in Newton, North Carolina. Peoples Bank provides financial services to individuals, families, businesses and organizations through a network of banking offices and digital banking channels.

The bank’s products and services include checking and savings accounts, certificates of deposit, consumer and residential mortgage loans, commercial real estate and business loans, agricultural lending, online and mobile banking, treasury management and other related financial services.

Further Reading

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