15,823 Shares in Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Purchased 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 purchased a new stake in shares of Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,823 shares of the bank's stock, valued at approximately $431,000. NorthRock Partners LLC owned approximately 0.29% of Peoples Bancorp of North Carolina at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PEBK. Wells Fargo & Company MN raised its position 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 valued at $81,000 after purchasing an additional 564 shares during the period. American Century Companies Inc. increased its position in shares of Peoples Bancorp of North Carolina by 3.1% during the 4th quarter. American Century Companies Inc. now owns 23,380 shares of the bank's stock valued at $731,000 after purchasing an additional 695 shares during the last quarter. Bank of America Corp DE raised its holdings in Peoples Bancorp of North Carolina by 35.5% during the 4th quarter. Bank of America Corp DE now owns 4,649 shares of the bank's stock valued at $145,000 after buying an additional 1,219 shares during the period. Northern Trust Corp lifted its position in Peoples Bancorp of North Carolina by 3.2% in the fourth quarter. Northern Trust Corp now owns 39,911 shares of the bank's stock worth $1,247,000 after buying an additional 1,233 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Peoples Bancorp of North Carolina by 12.1% during the fourth quarter. First Trust Advisors LP now owns 18,688 shares of the bank's stock worth $584,000 after buying an additional 2,014 shares during the period. Hedge funds and other institutional investors own 43.83% of the company's stock.

Peoples Bancorp of North Carolina Trading Down 3.0%

Peoples Bancorp of North Carolina stock traded down $0.85 during midday trading on Friday, reaching $27.86. The stock had a trading volume of 27,974 shares, compared to its average volume of 6,064. 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 firm has a market cap of $152.12 million, a price-to-earnings ratio of 8.96 and a beta of 0.65. Peoples Bancorp of North Carolina, Inc. has a 52-week low of $23.74 and a 52-week high of $33.31. The company has a fifty day moving average of $28.78 and a 200 day moving average of $28.19.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last released 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 firm had revenue of $22.29 million for the quarter.

Peoples Bancorp of North Carolina Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, June 3rd. Peoples Bancorp of North Carolina's dividend payout ratio (DPR) is 25.72%.

Analyst Upgrades and Downgrades

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

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.