Peoples Bancorp of North Carolina (NASDAQ:PEBK) Raised to Buy at StockNews.com

Peoples Bancorp of North Carolina (NASDAQ:PEBK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Peoples Bancorp of North Carolina Price Performance

Shares of PEBK stock opened at $26.34 on Wednesday. The firm has a market cap of $143.76 million, a P/E ratio of 8.84 and a beta of 0.60. Peoples Bancorp of North Carolina has a fifty-two week low of $23.74 and a fifty-two week high of $33.31. The business’s 50 day moving average price is $29.44 and its 200-day moving average price is $28.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last issued its quarterly earnings data on Wednesday, February 12th. The bank reported $0.65 earnings per share for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.85% and a net margin of 15.08%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in shares of Peoples Bancorp of North Carolina by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,590 shares of the bank’s stock valued at $81,000 after purchasing an additional 564 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Peoples Bancorp of North Carolina during the fourth quarter valued at $82,000. MetLife Investment Management LLC bought a new position in shares of Peoples Bancorp of North Carolina during the fourth quarter valued at $85,000. JPMorgan Chase & Co. lifted its holdings in shares of Peoples Bancorp of North Carolina by 15.2% during the third quarter. JPMorgan Chase & Co. now owns 4,366 shares of the bank’s stock valued at $111,000 after purchasing an additional 576 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Peoples Bancorp of North Carolina by 35.5% during the fourth quarter. Bank of America Corp DE now owns 4,649 shares of the bank’s stock valued at $145,000 after purchasing an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 43.83% of the company’s stock.

About Peoples Bancorp of North Carolina

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.