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

StockNews.com started coverage on shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK – Get Rating) in a research report sent to investors on Monday morning. The firm issued a buy rating on the bank’s stock.

Peoples Bancorp of North Carolina Stock Performance

NASDAQ PEBK opened at $26.95 on Monday. The company’s fifty day moving average is $26.74 and its two-hundred day moving average is $27.64. The firm has a market capitalization of $152.43 million, a price-to-earnings ratio of 11.72 and a beta of 0.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.80 and a quick ratio of 0.80. Peoples Bancorp of North Carolina has a 52-week low of $25.50 and a 52-week high of $30.00.

Peoples Bancorp of North Carolina Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, June 3rd were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $0.72 annualized dividend and a yield of 2.67%. Peoples Bancorp of North Carolina’s dividend payout ratio (DPR) is 31.30%.

Insiders Place Their Bets

In related news, Director James S. Abernethy sold 4,000 shares of the company’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $26.35, for a total value of $105,400.00. Following the completion of the transaction, the director now directly owns 46,820 shares in the company, valued at $1,233,707. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director James S. Abernethy sold 4,000 shares of Peoples Bancorp of North Carolina stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $26.35, for a total transaction of $105,400.00. Following the sale, the director now directly owns 46,820 shares in the company, valued at approximately $1,233,707. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO William D. Cable sold 7,700 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $26.05, for a total transaction of $200,585.00. Following the completion of the transaction, the chief operating officer now directly owns 19,914 shares of the company’s stock, valued at approximately $518,759.70. The disclosure for this sale can be found here. Corporate insiders own 18.61% of the company’s stock.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Several hedge funds and other institutional investors have recently modified their holdings of the stock. River Oaks Capital LLC acquired a new position in Peoples Bancorp of North Carolina during the fourth quarter worth $2,035,000. Strategic Value Bank Partners LLC bought a new stake in shares of Peoples Bancorp of North Carolina in the 4th quarter worth about $8,543,000. Vanguard Group Inc. grew its holdings in shares of Peoples Bancorp of North Carolina by 27.7% in the 1st quarter. Vanguard Group Inc. now owns 157,506 shares of the bank’s stock worth $4,520,000 after purchasing an additional 34,178 shares during the last quarter. Petiole USA ltd acquired a new stake in shares of Peoples Bancorp of North Carolina during the 4th quarter worth about $525,000. Finally, Greenwich Investment Management Inc. bought a new position in Peoples Bancorp of North Carolina during the 4th quarter valued at about $466,000. Institutional investors own 49.09% of the company’s stock.

Peoples Bancorp of North Carolina Company Profile

(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.