15,823 Shares in Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Acquired by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC acquired 15,823 shares of Peoples Bancorp of North Carolina, valued at approximately $431,000, marking a new investment in the bank.
• Wellington Management Group LLP significantly increased its stake in Peoples Bancorp by 606.4%, now owning 426,893 shares worth around $13.34 million.
• Analysts recently upgraded Peoples Bancorp of North Carolina from a "hold" to a "buy" rating, reflecting growing optimism regarding the company's performance.

NorthRock Partners LLC bought a new stake in shares of Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,823 shares of the bank's stock, valued at approximately $431,000. NorthRock Partners LLC owned about 0.29% of Peoples Bancorp of North Carolina at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEBK. Wellington Management Group LLP boosted its position in shares of Peoples Bancorp of North Carolina by 606.4% during the fourth quarter. Wellington Management Group LLP now owns 426,893 shares of the bank's stock worth $13,340,000 after buying an additional 366,459 shares during the period. Nuveen Asset Management LLC purchased a new position in Peoples Bancorp of North Carolina in the fourth quarter valued at $277,000. Deutsche Bank AG purchased a new position in Peoples Bancorp of North Carolina in the fourth quarter valued at $82,000. Bank of America Corp DE boosted its holdings in Peoples Bancorp of North Carolina by 35.5% in the fourth quarter. Bank of America Corp DE now owns 4,649 shares of the bank's stock valued at $145,000 after purchasing an additional 1,219 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Peoples Bancorp of North Carolina by 41.7% in the fourth quarter. BNP Paribas Financial Markets now owns 11,335 shares of the bank's stock valued at $354,000 after purchasing an additional 3,335 shares during the period. Institutional investors and hedge funds own 43.83% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Peoples Bancorp of North Carolina from a "hold" rating to a "buy" rating in a report on Thursday, April 24th.

Peoples Bancorp of North Carolina Stock Down 0.7%

Peoples Bancorp of North Carolina stock traded down $0.19 during midday trading on Monday, reaching $27.68. The company's stock had a trading volume of 1,550 shares, compared to its average volume of 8,215. Peoples Bancorp of North Carolina, Inc. has a fifty-two week low of $23.74 and a fifty-two week high of $33.31. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.11. The company has a market cap of $151.11 million, a P/E ratio of 8.90 and a beta of 0.65. The business has a 50-day simple moving average of $28.78 and a 200-day simple moving average of $28.15.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $0.95 EPS for the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.60% and a net margin of 15.49%. The business had revenue of $22.29 million for the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 3rd. Peoples Bancorp of North Carolina's payout ratio is currently 25.72%.

Peoples Bancorp of North Carolina 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.