Peoples Bancorp of North Carolina (NASDAQ:PEBK) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Peoples Bancorp of North Carolina crossed above its 200-day moving average, with a 200-day MA of $35.65 while the stock traded as high as $42.42 and last at $40.65 on volume of 37,312 shares.
• Weiss Ratings upgraded the stock from "hold (c+)" to "buy (b-)," and MarketBeat shows a current consensus rating of "Buy."
• The company raised its quarterly dividend from $0.20 to $0.21 (annualized $0.84) for a yield of about 2.1% and a payout ratio of 23.2%, paid March 16.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $35.65 and traded as high as $42.42. Peoples Bancorp of North Carolina shares last traded at $40.65, with a volume of 37,312 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Peoples Bancorp of North Carolina from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Peoples Bancorp of North Carolina currently has a consensus rating of "Buy".

Peoples Bancorp of North Carolina Stock Down 3.0%

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $221.95 million, a P/E ratio of 11.20 and a beta of 0.30. The business has a 50-day moving average price of $39.20 and a 200 day moving average price of $35.65.

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

Peoples Bancorp of North Carolina Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 4th were given a $0.21 dividend. This is a boost from Peoples Bancorp of North Carolina's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, March 4th. Peoples Bancorp of North Carolina's dividend payout ratio is 23.20%.

Insider Transactions at Peoples Bancorp of North Carolina

In related news, Director James S. Abernethy sold 1,000 shares of the firm's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $38.34, for a total value of $38,340.00. Following the completion of the sale, the director directly owned 72,526 shares in the company, valued at $2,780,646.84. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 2,123 shares of company stock valued at $81,586 in the last ninety days. 14.50% of the stock is owned by company insiders.

Institutional Trading of Peoples Bancorp of North Carolina

A number of institutional investors have recently bought and sold shares of PEBK. Empowered Funds LLC lifted its position in 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. Geode Capital Management LLC lifted its position in 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. First Trust Advisors LP lifted its position in Peoples Bancorp of North Carolina by 15.1% in the second quarter. First Trust Advisors LP now owns 21,366 shares of the bank's stock worth $616,000 after buying an additional 2,809 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Peoples Bancorp of North Carolina in the second quarter worth $63,000. Finally, Jane Street Group LLC bought a new stake in Peoples Bancorp of North Carolina in the second quarter worth $212,000. 43.83% of the stock is currently owned by institutional investors.

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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