Peoples Bancorp of North Carolina (NASDAQ:PEBK) Issues Quarterly Earnings Results

Key Points

• Peoples Bancorp of North Carolina reported $0.67 earnings per share (EPS) for the quarter, with a return on equity of 12.39% and a net margin of 15.49%.
• The company announced a quarterly $0.20 dividend, representing a dividend yield of 2.7% and a payout ratio of 25.72%.
• Shares of Peoples Bancorp increased by 5.9% on the day of the earnings release, trading at $30.09 with a market capitalization of $164.29 million.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) released its earnings results on Monday. The bank reported $0.67 earnings per share (EPS) for the quarter, Zacks reports. Peoples Bancorp of North Carolina had a return on equity of 12.39% and a net margin of 15.49%.

Peoples Bancorp of North Carolina Stock Up 5.9%

Shares of NASDAQ PEBK traded up $1.67 on Monday, hitting $30.09. The company had a trading volume of 9,514 shares, compared to its average volume of 7,781. Peoples Bancorp of North Carolina has a 12-month low of $23.74 and a 12-month high of $33.90. The business has a 50 day moving average of $30.67 and a two-hundred day moving average of $29.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $164.29 million, a P/E ratio of 9.68 and a beta of 0.63.

Peoples Bancorp of North Carolina Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, September 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $0.80 annualized dividend and a dividend yield of 2.7%. Peoples Bancorp of North Carolina's dividend payout ratio is presently 25.72%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Peoples Bancorp of North Carolina in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

Institutional Trading of Peoples Bancorp of North Carolina

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Peoples Bancorp of North Carolina in the 2nd quarter valued at approximately $63,000. Jane Street Group LLC acquired a new position in Peoples Bancorp of North Carolina during the second quarter valued at $212,000. First Trust Advisors LP boosted its position in Peoples Bancorp of North Carolina by 15.1% during the second quarter. First Trust Advisors LP now owns 21,366 shares of the bank's stock valued at $616,000 after purchasing an additional 2,809 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Peoples Bancorp of North Carolina by 7.1% in the first quarter. Empowered Funds LLC now owns 34,009 shares of the bank's stock worth $926,000 after buying an additional 2,244 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Peoples Bancorp of North Carolina by 0.5% in the second quarter. Geode Capital Management LLC now owns 109,401 shares of the bank's stock worth $3,157,000 after buying an additional 530 shares during the last quarter. Institutional investors and hedge funds own 43.83% of the company's stock.

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.

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