Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK) Short Interest Update

Key Points

• Short interest fell 15.7% in April to 49,839 shares (about 1.1% of the float), leaving a short-interest ratio of roughly 1.2 days based on average daily volume.
• Weiss Ratings upgraded PEBK from "buy (b-)" to "buy (b)", and MarketBeat lists a consensus Buy rating (based on one analyst).
• Peoples Bancorp raised its quarterly dividend to $0.21 (annualized $0.84) for a yield of about 2.1%, with a dividend payout ratio of 23.14%.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 49,839 shares, a decrease of 15.7% from the March 31st total of 59,096 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 41,990 shares, the short-interest ratio is presently 1.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Peoples Bancorp of North Carolina presently has a consensus rating of "Buy".

Peoples Bancorp of North Carolina Price Performance

Shares of PEBK stock traded up $0.78 on Friday, reaching $40.20. 9,893 shares of the company were exchanged, compared to its average volume of 25,845. The company has a market cap of $219.46 million, a price-to-earnings ratio of 11.07 and a beta of 0.30. The business has a 50-day moving average price of $39.23 and a 200 day moving average price of $36.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.84 and a current ratio of 0.84. Peoples Bancorp of North Carolina has a 1 year low of $26.81 and a 1 year high of $42.63.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter. Peoples Bancorp of North Carolina had a net margin of 17.22% and a return on equity of 13.24%. The company had revenue of $21.57 million during the quarter.

Peoples Bancorp of North Carolina Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 4th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.84 annualized dividend and a yield of 2.1%. This is a boost from Peoples Bancorp of North Carolina's previous quarterly dividend of $0.20. Peoples Bancorp of North Carolina's dividend payout ratio is currently 23.14%.

Insider Buying and Selling at Peoples Bancorp of North Carolina

In other Peoples Bancorp of North Carolina news, Director James S. Abernethy sold 1,000 shares of the company's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $38.34, for a total value of $38,340.00. Following the completion of the transaction, the director owned 72,526 shares in the company, valued at approximately $2,780,646.84. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 2,723 shares of company stock valued at $105,622 in the last three months. Corporate insiders own 14.50% of the company's stock.

Institutional Trading of Peoples Bancorp of North Carolina

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in Peoples Bancorp of North Carolina by 116.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank's stock valued at $29,000 after acquiring an additional 502 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Peoples Bancorp of North Carolina during the 3rd quarter valued at about $45,000. BNP Paribas Financial Markets grew its stake in Peoples Bancorp of North Carolina by 28.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank's stock valued at $49,000 after acquiring an additional 351 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Peoples Bancorp of North Carolina during the 2nd quarter valued at about $63,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Peoples Bancorp of North Carolina in the 4th quarter valued at approximately $88,000. Hedge funds and other institutional investors own 43.83% of the company's stock.

Peoples Bancorp of North Carolina Company Profile

Peoples Bancorp of North Carolina, Inc is a bank holding company headquartered in Hickory, North Carolina, that operates through its wholly owned subsidiary, Peoples Bank. The company provides a comprehensive suite of banking and financial services tailored to individuals, small businesses, and municipal clients in the western region of North Carolina.

Through its community banking network, Peoples Bancorp offers deposit products such as checking, savings, money market accounts and certificates of deposit, alongside consumer and commercial lending solutions.

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