StockNews.com Lowers Peoples Bancorp of North Carolina (NASDAQ:PEBK) to Hold

Peoples Bancorp of North Carolina (NASDAQ:PEBK) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Peoples Bancorp of North Carolina Stock Performance

Shares of Peoples Bancorp of North Carolina stock traded up $0.24 during mid-day trading on Thursday, hitting $31.81. 47,012 shares of the stock were exchanged, compared to its average volume of 17,985. Peoples Bancorp of North Carolina has a 12 month low of $18.81 and a 12 month high of $32.34. The company has a 50-day simple moving average of $29.66 and a 200 day simple moving average of $28.65. The company has a market capitalization of $168.27 million, a P/E ratio of 10.86 and a beta of 0.58. The company has a debt-to-equity ratio of 0.13, 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 results on Monday, April 22nd. The bank reported $0.72 EPS for the quarter. The business had revenue of $19.34 million for the quarter. Peoples Bancorp of North Carolina had a return on equity of 14.08% and a net margin of 15.80%.

Insider Buying and Selling

In related news, Director James S. Abernethy sold 1,000 shares of Peoples Bancorp of North Carolina stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $29.90, for a total value of $29,900.00. Following the sale, the director now owns 82,206 shares of the company’s stock, valued at approximately $2,457,959.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Peoples Bancorp of North Carolina

An institutional investor recently raised its position in Peoples Bancorp of North Carolina stock. Empowered Funds LLC grew its stake in shares of Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,824 shares of the bank’s stock after buying an additional 1,925 shares during the period. Empowered Funds LLC owned 0.51% of Peoples Bancorp of North Carolina worth $747,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 43.83% of the company’s stock.

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.