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

Key Points

• Peoples Bancorp of North Carolina shares crossed above their 200-day moving average, reaching $44.98 and last trading at $44.84 versus the $40.76 average.
• Analyst sentiment was favorable: Weiss Ratings upgraded the stock to “buy (b+),” while MarketBeat reported an average “Buy” rating.
• The bank reported quarterly earnings of $0.96 per share on $23.11 million in revenue and maintains a quarterly dividend of $0.21, or $0.84 annualized, yielding approximately 1.9%.

Peoples Bancorp of North Carolina, Inc. (NASDAQ:PEBK - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $40.76 and traded as high as $44.98. Peoples Bancorp of North Carolina shares last traded at $44.84, with a volume of 8,813 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Peoples Bancorp of North Carolina from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Peoples Bancorp of North Carolina presently has an average rating of "Buy".

Peoples Bancorp of North Carolina Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $244.83 million, a PE ratio of 12.32 and a beta of 0.29. The firm's 50 day moving average price is $43.15 and its 200-day moving average price is $40.76.

Peoples Bancorp of North Carolina (NASDAQ:PEBK - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The bank reported $0.96 earnings per share for the quarter. The firm had revenue of $23.11 million during the quarter. Peoples Bancorp of North Carolina had a return on equity of 12.75% and a net margin of 17.25%.

Peoples Bancorp of North Carolina Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, June 3rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 1.9%. Peoples Bancorp of North Carolina's dividend payout ratio (DPR) is currently 23.08%.

Insider Activity at Peoples Bancorp of North Carolina

In other Peoples Bancorp of North Carolina news, Director James S. Abernethy sold 1,000 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $42.91, for a total transaction of $42,910.00. Following the transaction, the director directly owned 66,626 shares of the company's stock, valued at $2,858,921.66. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert C. Abernethy sold 5,247 shares of Peoples Bancorp of North Carolina stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $43.34, for a total transaction of $227,404.98. Following the completion of the sale, the director owned 108,116 shares in the company, valued at approximately $4,685,747.44. This trade represents a 4.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,347 shares of company stock worth $486,132 in the last quarter. 14.50% of the stock is owned by insiders.

Institutional Trading of Peoples Bancorp of North Carolina

A number of institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in Peoples Bancorp of North Carolina by 116.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 932 shares of the bank's stock valued at $29,000 after purchasing an additional 502 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Peoples Bancorp of North Carolina during the third quarter worth $45,000. BNP Paribas Financial Markets raised its position in shares of Peoples Bancorp of North Carolina by 28.1% in the third quarter. BNP Paribas Financial Markets now owns 1,600 shares of the bank's stock valued at $49,000 after buying an additional 351 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Peoples Bancorp of North Carolina in the second quarter worth about $63,000. Finally, MetLife Investment Management LLC acquired a new position in Peoples Bancorp of North Carolina during the fourth quarter worth about $88,000. 43.83% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source