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

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 research report issued on Thursday.

Peoples Bancorp of North Carolina Trading Down 0.3 %

Shares of Peoples Bancorp of North Carolina stock opened at $30.16 on Thursday. The company has a market capitalization of $164.61 million, a price-to-earnings ratio of 10.22 and a beta of 0.60. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Peoples Bancorp of North Carolina has a 12-month low of $23.74 and a 12-month high of $33.31. The firm’s 50-day moving average price is $30.36 and its two-hundred day moving average price is $28.77.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last posted its quarterly earnings results on Wednesday, February 12th. The bank reported $0.65 earnings per share for the quarter. Peoples Bancorp of North Carolina had a net margin of 15.27% and a return on equity of 12.92%.

Insider Activity

In other news, Director James S. Abernethy sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $30.02, for a total value of $30,020.00. Following the sale, the director now directly owns 73,976 shares in the company, valued at approximately $2,220,759.52. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

Several hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in Peoples Bancorp of North Carolina by 3.2% during the 4th quarter. Northern Trust Corp now owns 39,911 shares of the bank’s stock worth $1,247,000 after buying an additional 1,233 shares during the period. MetLife Investment Management LLC acquired a new stake in Peoples Bancorp of North Carolina during the 4th quarter worth approximately $85,000. First Trust Advisors LP boosted its position in Peoples Bancorp of North Carolina by 12.1% during the 4th quarter. First Trust Advisors LP now owns 18,688 shares of the bank’s stock worth $584,000 after buying an additional 2,014 shares during the period. Fourthstone LLC boosted its position in Peoples Bancorp of North Carolina by 203.6% during the 4th quarter. Fourthstone LLC now owns 61,243 shares of the bank’s stock worth $1,914,000 after buying an additional 41,069 shares during the period. Finally, Barclays PLC boosted its position in Peoples Bancorp of North Carolina by 32.7% during the 4th quarter. Barclays PLC now owns 10,351 shares of the bank’s stock worth $323,000 after buying an additional 2,550 shares during the period. 43.83% of the stock is currently owned by institutional investors and hedge funds.

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.