Peoples Bancorp of North Carolina (NASDAQ:PEBK) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK – Get Rating) in a report released on Wednesday. The firm set a “buy” rating on the bank’s stock.

PEBK opened at $27.83 on Wednesday. Peoples Bancorp of North Carolina has a one year low of $22.80 and a one year high of $30.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $157.41 million, a price-to-earnings ratio of 10.58 and a beta of 0.78. The firm’s fifty day moving average price is $28.54.

Peoples Bancorp of North Carolina (NASDAQ:PEBK – Get Rating) last posted its quarterly earnings data on Monday, January 24th. The bank reported $0.53 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a net margin of 20.99% and a return on equity of 10.60%. The company had revenue of $17.60 million during the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its holdings in shares of Peoples Bancorp of North Carolina by 100.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 2,200 shares of the bank’s stock worth $61,000 after acquiring an additional 1,100 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Peoples Bancorp of North Carolina by 4.7% during the 4th quarter. BlackRock Inc. now owns 12,880 shares of the bank’s stock worth $355,000 after acquiring an additional 578 shares during the last quarter. Greenwich Investment Management Inc. bought a new stake in Peoples Bancorp of North Carolina in the fourth quarter worth $466,000. Petiole USA ltd bought a new stake in Peoples Bancorp of North Carolina in the fourth quarter worth $525,000. Finally, Millennium Management LLC bought a new stake in Peoples Bancorp of North Carolina in the second quarter worth $530,000. 46.97% of the stock is owned by institutional investors.

About Peoples Bancorp of North Carolina (Get Rating)

Peoples Bancorp of North Carolina, Inc operates as the bank holding company for Peoples Bank that provides various commercial and consumer banking products and services to individuals and small to medium-sized businesses. It offers checking, savings, money market, and time deposits; demand deposits; and certificates of deposit, as well as borrowed funds.

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