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

StockNews.com upgraded shares of Peoples Bancorp of North Carolina (NASDAQ:PEBK) from a hold rating to a buy rating in a research report released on Thursday.

Peoples Bancorp of North Carolina Stock Up 0.7 %

Shares of NASDAQ PEBK opened at $26.69 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm has a market cap of $145.70 million, a PE ratio of 8.96 and a beta of 0.44. The company’s fifty day simple moving average is $26.83 and its 200 day simple moving average is $28.42. Peoples Bancorp of North Carolina has a 12-month low of $23.74 and a 12-month high of $33.31.

Peoples Bancorp of North Carolina (NASDAQ:PEBK) last released its quarterly earnings data on Monday, April 21st. The bank reported $0.79 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a net margin of 15.08% and a return on equity of 12.85%. The company had revenue of $20.47 million for the quarter.

Peoples Bancorp of North Carolina Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.20 per share. This is an increase from Peoples Bancorp of North Carolina’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 3.00%. Peoples Bancorp of North Carolina’s payout ratio is currently 26.23%.

Hedge Funds Weigh In On Peoples Bancorp of North Carolina

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in 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 worth $81,000 after buying an additional 564 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Peoples Bancorp of North Carolina during the fourth quarter worth about $82,000. MetLife Investment Management LLC acquired a new stake in shares of Peoples Bancorp of North Carolina in the 4th quarter worth about $85,000. JPMorgan Chase & Co. lifted its position in Peoples Bancorp of North Carolina by 15.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,366 shares of the bank’s stock valued at $111,000 after acquiring an additional 576 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Peoples Bancorp of North Carolina by 35.5% in the 4th quarter. Bank of America Corp DE now owns 4,649 shares of the bank’s stock valued at $145,000 after acquiring an additional 1,219 shares in the last quarter. 43.83% of the stock is currently owned by institutional investors.

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.